What is this machine acquisition cost

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Question - Avenal Inc. purchased a machine on July 31 for $82,000, paying cash. The company also paid $500 for freight, $1,500 for installation and testing, $800 for employee training, $700 for supplies to be used in production, and $2,400 for a two-year insurance policy. The machine has a residual value of $6,000 and a useful life of 10 years. What is this machine's acquisition cost?

On December 10 your business sold inventory worth $25,000 to a customer for $45,000. You shipped it FOB destination and the terms were 1/10,n/30. The next day, the appropriate party paid the freight company $100. Four days later the customer returned 20% of his order. You received payment on December 22. How much did the customer pay you?

Reference no: EM133168357

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