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Paid $266,000 cash plus $10,640 in sales tax and $1,600 in transportation (...

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Accounting

Paid $266,000 cash plus $10,640 in sales tax and $1,600 in transportation ( FOB shipping point) for a new loader. The loader is estimated to have a four- year life and a $26,600 salvage value. Loader costs are recorded in the Equipment account

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