Good eve tutor!

Can you help me with my assignment about Intermediate Accounting 1?

The topic is Property, Plant, and Equipment.

THANK YOU IN ADVANCE, TUTOR!

PART I. Analyze and answer the given problem. Use a 10-column worksheet for the solution. (5 points)

On March 1, 20X1 J Co. acquired a machine from N Co. under the following terms:

List price of machine	P 82,000
Import duty	1,500
Delivery fees	2,050
Electrical installation costs	9,500
Pre-production testing	4,900
Purchase a five-year maintenance contract for plant	7,000

In addition to the information above, J Co. was granted a trade discount of 10% on the initial list price of the asset and a settlement of 5% if payment for the machine was received within one (1) month of purchase. The company paid the plant on March 25, 20X1.

Required: Compute for the cost of machinery.