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Rizio Co. purchases a machine for $11,500, terms 1/10, n/60, FOB shipping point. Rizidpaid within the discount period and took the $115 discount. Transportation costs

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Rizio Co. purchases a machine for $11,500, terms 1/10, n/60, FOB shipping point. Rizidpaid within the discount period and took the $115 discount. Transportation costs of $260 were paid by Rizio. The machine required mounting and power connections costing $795. Another $375 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $350 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 0 Total cost to be recorded Prev Next> of 5

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