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Rizio Co. purchases a machine for $9,700, terms 1/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $97 discount. Transportation
Rizio Co. purchases a machine for $9,700, terms 1/10, n/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$280 worth of repairs were made.
Complete the below table to calculatethe cost recorded for this machine.
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