Slide 9-8 Determining Cost Example List price $52,000 Sales tax 8% 4,160 Transportation cost 500 Set-up 1.300 Testing 4,000 Total cost to Heat co $61,960 Date Description De bit Credit 4-May New Machine 61960 Cash 61960 Irwin/McGraw-Hill ?The McGraw-Hill Companies, Inc., 1999?The McGraw-Hill Companies, Inc., 1999 Slide 9-8 Irwin/McGraw-Hill Determining Cost Example List price $ 52,000 Sales tax @ 8% 4,160 Transportation cost 500 Set-up 1,300 Testing 4,000 Total cost to Heat Co. $ 61,960 Date Description Debit Credit 4-May New Machine 61,960 Cash 61,960