Bahama Catering purchased a commercial dishwasher by paying cash


Question Description:

30

Bahama Catering purchased a commercial dishwasher by paying cash of $5,700. The dishwasher’s fair value on the date of the purchase was $6,080. The company incurred $420 in transportation costs, $260 installation fees, and paid a $250 fine for illegal parking while the dishwasher was being delivered. For what amount will Bahama record the dishwasher? $6,380 $6,630 $6,760 $6,080

Answer

30