Granite Company purchased a machine costing $125,000, terms 3/10, n/30. The machine was shipped FOB shipping point and freight charges were $2,500. The machine requires special mounting and wiring connections costing $10,500. When installing the machine, $2,000 in damages occurred. Compute the cost recorded for this machine assuming Granite paid within the discount period. Multiple Choice O $141,800 $134,250 o $138,050 O $133750 Prey 1 of 15 Next > Multiple Choice $11,800. $134,250. S138,050. $133,750. o st34, 50. Mohr Company purchases a machine at the beginning of the year at a cost of $32,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 8 years with a $8,000 salvage value. Depreciation expense in year 2 is: Multiple Choice S4.000 53000. . S8000 524,000 to search Multiple Choice o o o $8,000. o $24,000. S0 A change in an accounting estimate is Multiple Choice Reflected in past financial statements O Reflected in future financial statements and also requires modification of past statements. Reflected in current and future years' financial statements, not in prior statements. S Not allowed under current accounting rules Multiple Choice ) Reflected in past financial statements. Reflected in future financial statements and also requires modification of past statements. Reflected in current and future years financial statements, not in prior statements Not allowed under current accounting rules Considered an error in the financial statements