Exercise 8-1 (Algo) Cost of plant assets LO C1 Rizio Company purchases a machine for $14,200, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $142 discount. Transportation costs of $321 were paid by Rizio. The machine required mounting and power connections costing $982. Another $463 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $330 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Amount Included in Cost of Equipment Invoice price of machine Net purchase price Total cost to be recorded Exercise 8-1 (Algo) Cost of plant assets LO C1 Rizio Company purchases a machine for $14,200, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $142 discount. Transportation costs of $321 were paid by Rizio. The machine required mounting and power connections costing $982. Another $463 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $330 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine. Amount Included in Cost of Equipment Invoice price of machine Net purchase price Total cost to be recorded