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On July 1, ABC Company purchased a machine worth Php 21,000,000 subject to a 2%...

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Accounting

On July 1, ABC Company purchased a machine worth Php 21,000,000 subject to a 2% cash discount if paid within 120 days. The freight on the machinery amounted to Php 315,000. Construction of bases for such machine acquired amounted to Php 4,050,000. On November 15, ABC Company paid the supplier of the machine. How much is the total cost of the machine to be reported in the year-end statement of financial position?

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