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thank you Rizio Co. purchases a machine for $12,500, terms 2/10, 1/60, FOB shipping point. Rizio paid within the discount period and took the $250
thank you Rizio Co. purchases a machine for $12,500, terms 2/10, 1/60, FOB shipping point. Rizio paid within the discount period and took the $250 discount Transportation costs of $360 were paid by Rizio. The machine required mounting and power connections costing $895. Another $475 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation the machine was damaged and $180 worth of repairs were made Complete the below table to calculate the cost recorded for this machine Answer is not complete. Amount included in Cost of Equipment: Invoice price of machine $ 12,500 (250) 12.250 360 895 Nel purchase price Transportation Mounting and power connections Assembly Materials used in adjusting Damages OOOO OOOO 475 40 2 180 Total cost to be recorded $ 14200
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