Jeter Company purchases a machine for $12,400, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the cash discount. Transportation costs of $280 were paid by Jeter. The machine required mounting and power connections costing $857. Another $404 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $295 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

Jeter Company purchases a machine for $12,400, terms 1/10,n/60, FOB shipping point. Rizio paid within the discount period and took the cash discount. Transportation costs of $280 were paid by Jeter. The machine required mounting and power connections costing $857. Another $404 is paid to assemble the machine, and \$40 of materials are used to get it into operation. During installation. the machine was damaged and $295 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine