Granite Company purchased a machine costing $131,000, terms 3/10, n/30. The machine was shipped to the FOB
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Granite Company purchased a machine costing $131,000, terms 3/10, n/30. The machine was shipped to the FOB shipping point and the freight charges were $3,100. The machine requires custom assembly and wiring, which costs $11,100. $2,600 damage was incurred while installing the machine. Calculate the cost posted for this machine, assuming the granite was paid within the discount period.
Related Book For
Survey of Accounting
ISBN: 978-0078110856
3rd Edition
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
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