Business
Business, 05.12.2019 19:31, auntlynard1843

O’connor company ordered a machine on january 1 at a purchase price of $95,000. on the date of delivery, january 2, the company paid $24,000 on the machine and signed a long-term note payable for the balance. on january 3, it paid $1,000 for freight on the machine. on january 5, o’connor paid cash for installation costs relating to the machine amounting to $5,700. on december 31 (the end of the accounting period), o’connor recorded depreciation on the machine using the straight-line method with an estimated useful life of 10 years and an estimated residual value of $10,200.

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O’connor company ordered a machine on january 1 at a purchase price of $95,000. on the date of deliv...

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