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What cost should be recorded for the commercial safe

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Reference no: EM13911736

Minott Jewelers, Ltd., purchased store fixtures, display cases, and a maximum security commercial safe for a lump sum price of $14,000 from a bankrupt competitor. Appraised values were as follows: store fixtures, $6,000; display cases, $9,000; commercial safe, $5,000.

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What cost should be recorded for the commercial safe?

Reference no: EM13911736

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