Question
(Algo) Cost of plant assets LO C1 Rizio Company purchases a machine for $11,900, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount
(Algo) Cost of plant assets LO C1
Rizio Company purchases a machine for $11,900, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $238 discount. Transportation costs of $269 were paid by Rizio. The machine required mounting and power connections costing $823. Another $388 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $210 worth of repairs were made. Complete the below table to
Complete the below table to calculate the cost recorded for this machine.
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