Safari File Edit View History Bookmarks Develop Window Help 1t and 12 Test Help

Question

Safari File Edit View History Bookmarks Develop Window Help 1t and 12 Test Help Save & Exit Submit Granite Company purchased a machine costing $129000, terms 1/10, n/30. The machine was shipped FOB shipping point and freight charges were $2,900. The machine requires special mounting and wiring connections costing $10.900. When installing the machine, $2.400 in damages occurred Compute the cost recorded for this machine assuming Granite paid within the discount period Multiple Choice $141,510 4210 $141010 $146,110 2 3 4 6 8

Explanation / Answer

Answer is $141,510.

Cost recorded = Cost of Machine * (1 - Discount Rate) + Freight Charges + Mounting and Wiring Charges
Cost recorded = $129,000 * (1 - 0.01) + $2,900 + $10,900
Cost recorded = $129,000 * 0.99 + $2,900 + $10,900
Cost recorded = $127,710 + $13,800
Cost recorded = $141,510

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