Slide ●● 9-7 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 Prepare the journal entry Irwin/McGraw-Hill ?The McGraw-Hill Companies, Inc., 1999?The McGraw-Hill Companies, Inc., 1999 Slide 9-7 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 Prepare the journal entry