Granite company purchased a machine costing 137000 terms, Accounting Basics

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Granite company purchased a machine costing 137000 terms

Granite Company purchased a machine costing $137,000, terms 3/10, n/30. The machine was shipped FOB shipping point and freight charges were $3,700. The machine requires special mounting and wiring connections costing $11,700. When installing the machine, $3,200 in damages occurred. Compute the cost recorded for this machine assuming Granite paid within the discount period.

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Accounting Basics: Granite company purchased a machine costing 137000 terms

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Accounting Basics: Granite company purchased a machine costing 137000 terms

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