On January 1, 20A, Goldstein Company purchased a machine. The seller agreed that a total of $9,000 would be paid over a three-year period–$3,000 per…

On January 1, 20A, Goldstein Company purchased a machine. The seller agreed that a total of $9,000 would be paid over a three-year period–$3,000 per year at the end of 20A, 20B, and 20C. At the time the machine was purchased, the market rate of interest was 10%. The amount that should be debited to the asset account, Machinery, on the date of purchase is (round to the nearest dollar)