1-the journal entry to record its purchase on january 1,2022

2-the journal entry to record annual depreciation at december 31,2022

On Lanuary 1.2022. Fvers Company purchased the following two machines for use in its production process Machine A. The cahh price of this machine was 548000 . Related expenditures also paid in cashincluded: sales tax $1.700. shipping cests 5150 , inwurance during shipping 580 , intaltation and testing costs $70 and 5100 of oil and lubricants to be used with the machinery during its first year of operations. Evers estimates that the useful life of the machine is 5 years with a 55,000 salvage value remaining at the end of that time period. Assume that the straightline method of depreciationisused. Machine ft: The recorded cost of this machine was $160000. Evers estimates that the useful iffe of the machine is 4 years with a $10000 salvage vilue remaining at the end of that time peried. (a) Prepare the tollowing for Mactine A (Round answers to 0 decimal ploces, e a : 5,125, tist all debit entries before credit. cintries. Credit account titles art butomaticefly indented when amount is entered. De not indent manually, If no entry is required, select "No Entry" for the account titles and enter 0 for the amounti) 1. The journal evtry to recoed its purchase on danuary 1.2022 2. The loumal entry to record annual depreciation at December 31,2022