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Rizio Co purchases a machine for $10,900, terms 1/10,n/60, FOB shipping point. Rizio paid within the discount period and took the $109 discount. Transportation costs

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Rizio Co purchases a machine for $10,900, terms 1/10,n/60, FOB shipping point. Rizio paid within the discount period and took the $109 discount. Transportation costs of $246 were paid by Rizio. The machine required mounting and power connections costing $754 Another $355 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $340 worth of repairs were made. Complete the below table to calculate the cost recorded for this machine $ 10,900 Amount included in Cost of Equipment: Invoice price of machine Less: Discount Net purchase price 10.900 Total cost to be recorded 5 10,900

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