Granite company purchased a machine costing $128,000, terms 3/10, n/30. the machine was shipped fob shipping point and freight charges were $2,800. the machine requires special mounting and wiring connections costing $10,800. when installing the machine, $2,300 in damages occurred. compute the cost recorded for this machine assuming granite paid within the discount period.

machine enter the accounting at 138,210 dollars

Explanation:

cost: 128,000 x ( 1 - 3%) = 124,610

shipping cost:                      2,800

installation cost:                 10,800  

total incurred cost

to leave the machine

ready for use:                138,210

The damge are expenses for the period as they arent a necessary cost to utilize the machine.

The company used the discount price over the list price as this is the atual cost incurred

i think this is true i hope this

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