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DanielleElmas [232]
3 years ago
14

Granite Company purchased a machine costing $133,000, terms 2/10, n/30. The machine was shipped FOB shipping point and freight c

harges were $3,300. The machine requires special mounting and wiring connections costing $11,300. When installing the machine, $2,800 in damages occurred. Compute the cost recorded for this machine assuming Granite paid within the discount period.
Business
1 answer:
nikitadnepr [17]3 years ago
6 0

Answer:

$144,940

Explanation:

machine costing = $133,000

freight charges = $3,300

special mounting and wiring connections costing = $11,300

Discount rate = 2%

Compute the machine cost as given below:

Machine cost:

= Purchase price × (1 - Discount rate) + Freight charges + Special mounting and wiring connection cost

= 133,000 × (1 - 2%) + $3,300 + $11,300

= $144,940

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