bolt company purchased a machine for use in its operations that had an invoice price 624484

Bolt Company purchased a machine for use in its operations that had an invoice price of USD 80,000 excluding sales tax. A 4 percent sales tax was levied on the sale. Terms were net 30. The company estimated the total cost of hauling the machine from the dealer”s warehouse to the company”s plant at USD 5,600, which did not include a fine of USD 1,600 for failure to secure the necessary permits to use city streets in transporting the machine. In delivering the machine to its plant, a Bolt employee damaged the truck used; repairs cost USD 3,600. The machine was also slightly damaged with repair costs amounting to USD 1,600. Bolt incurred installation costs of USD 32,000 that included the USD 4,000 cost of shoring up the floor under the machine. Testing costs amounted to USD 2,400. Safety guards were installed on the machine at a cost of USD 640, and the machine was placed in operation. Prepare a schedule showing the amount at which the machine should be recorded in Bolt”s accounts.