Compute the total cost debited to the store computing

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Reference no: EM132544132

A big departmental store purchased new computing equipment. Following are the information related to the purchase and installation of the computing system:

a. Invoice value of machine was $85,000.

b. further to invoice value sales taxes of $5,000 was also paid.

c. delivery charges of the equipment totaled $300.

d. Installation cost paid was $500.

e. due to mishandling, one of the computer part was accidentally damaged. replaced part costs $450.

Instructions:

Question a. Compute the total cost debited to the Store's Computing Equipment account.

Question b. Make journal entry of the transaction.

Reference no: EM132544132

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