Marble company purchased a machine costing 120000 terms 110, Ask an Expert

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Marble Company purchased a machine costing $120,000, terms 1/10, n/30. The machine was shipped FOB shipping point and freight charges were $2,000. The machine requires special mounting and wiring connections costing $10,000. When installing the machine, $1,300 in damages occurred. Materials costing $1,500 are used in testing and adjusting the machine to produce a satisfactory product. Compute the cost recorded for this machine assuming Marble paid within the discount period.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9944328

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