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On March $20,2024,$ Pharoah Corporation purchased two machines at auction for a combined total cost of $$238,000.$ The machines were listed in the auction catalogue at $$110,000$ for machine $x$ and $$155,000$ for machine $Y.$ Immediately after the auction, Pharoah had the machines professionally appraised so it could increase its insurance coverage. The appraisal put a fair value of $$108,452$ on machine $x$ and $$177,000$ on machine $Y.$

On March $24,$ Pharoah paid a total of $$5,000$ in transportation and installation charges for the two machines. No further expenditures were made for machine X$,$ but $$6,600$ was paid on March $29$ for improvements to machine Y$.$ On March $31,2024,$ both machines were ready to be used.

The company expects machine $x$ to last five years and to have a residual value of $$4,600$ when it is removed from service, and it expects machine $Y$ to be useful for eight more years and have a residual value of $$15,450$ at that time. Due to the different characteristics of the two machines, different depreciation methods will be used for them: machine $x$ will be depreciated using the double$-$diminishing$-$balance method and machine $Y$ using the straight$-$line method.

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Prepare the journal entry to record the purchase of the machines, indicating the initial cost of each. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Round percentage to $1$ decimal place, for es$.40\mathrm{.}1\%$ and round answers to the nearest whole dollar, eg$.5,275.$ List all debit entries before credit entries.$)$