Business, 17.04.2020 20:01 richlovedarkwa5

Rizio Co. purchases a machine for $10,900, terms 2/10, n/60, FOB shipping point. The seller prepaid the $246 freight charges, adding the amount to the invoice and bringing its total to $11,146. The machine requires special steel mounting and power connections costing $754. Another $355 is paid to assemble the machine and get it into operation. In moving the machine to its steel mounting, $200 in damages occurred. Also, $40 of materials is 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. Compute the cost recorded for this machine. (Rizio pays for this machine within the cash discount period.)

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Rizio Co. purchases a machine for $10,900, terms 2/10, n/60, FOB shipping point. The seller prepaid...

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