Which of the following best describes the proper treatment of cash discounts on acquired machinery?
a. The historical cost of the machinery should be the invoice price; the discount should be ignored.
b. The historical cost of the machinery should be the net-of-discount amount, regardless of whether the discount is actually taken.
c. The historical cost of the machinery should be the net-of-discount amount only if the discount is actually taken.
d. The historical cost of the machinery should be the invoice price plus the amount of the discount which is treated a interest capitalized on the purchase.
B
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