Indicate whether or not each of the following events immediately gives rise to the recognition of an asset. If an asset is recognized, state an account title and amount.

a Raw materials with an invoice price of $6,200 are purchased on account from Williams Wholesalers.

b Defective raw material purchased in part a for $200 is returned to Williams Wholesalers.

c The bill of Williams Wholesalers (see parts a and

b) is paid promptly. A discount of 2 percent offered by the seller for prompt payment is taken.

d A machine is purchased for $15,000 cash.

e The cost of transporting the new machine in part d to the plant site is paid in cash, $350.

f Material and labor costs incurred in installing the machine in part d total $200 and are paid in cash.