3. Martwell and Co. incurred the following costs on March 1, 2021. A machine was purchased for $85,000. The machine should last for 10 years and have a salvage value of $20,500 at that time. Shipping expenses were incurred of $5,000, installation of the machine cost $1000 Record the purchase of the machine, and the deprecation for 2021 and 2022.

3. Martwell and Co. incurred the following costs on March 1, 2021. A machine was purchased for $85,000. The machine should last for 10 years and have a salvage value of $20,500 at that time. Shipping expenses were incurred of $5,000, installation of the machine cost $1000 Record the purchase of the machine, and the deprecation for 2021 and 2022