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Rizio Co purchases a machine for $12.500, terms 2/10, n/60, FOB shipping point. The seller prepaid the $360 freight charges the amount to the Involce
Rizio Co purchases a machine for $12.500, terms 2/10, n/60, FOB shipping point. The seller prepaid the $360 freight charges the amount to the Involce and bringing Its total to $12.860. The machine requires costing $895. Another $475 Is paid to assemble the machine and get It into operation. In moving the machine to its steel mounting. $180 in damages occurred. Materials costing $40 are used in adjusting the machine to produce a satisfactory product. The adjustments are normal for this machine and are not the result of the damages The seller prepaid the $360 freight charges, adding and Complete the below table to calculate the cost recorded for this machine. (Rizio pays for this machine within the cash discount period) ok ount Included in Cost of Equipment Invoice price of machine nt Net purchase price erence Total cost to be recorded
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