atoony
Dec 26, 2012, 12:22 PM
HiLite Co. purchased a machine for AED 30,000 less a 2% discount for early payment. Freight charges of AED 500 were paid and insurance costs of AED 300 were paid during shipment. The machine cost AED 3,200 to install and testing cost AED 200.
Required: Prepare the journal entry to record the purchase of the machine
Required: Prepare the journal entry to record the purchase of the machine