homework

Rizio Company purchases a machine for $9,700, terms 1/10, 1/60, FOB shipping point. Rizio paid within the discount period and took the $97 discount. Transportation costs of $219 were paid by Rizio. The machine required mounting and power connections costing $671. Another $316 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $325 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 0 Net purchase price 0 Total cost to be recorded $