3 Vita Water purchased a used machine for $118.700 on January 2, 2020. it was repaired the next day at a cost of $6.538 and installed on a new platform that cost $1562 The company predicted that the machine would be used for six years and would then $21.920 residual value. Depreciation was to be charged on a straight line basis to the nearest whole month. A lull year's depreciation was recorded on December 31, 2020. On September 30, 2025. It was retired Required: 1. Prepare journal entries to record the purchase of the machine, the cost of repairing and the Institution. Assume that cash was pald 00 View transactions View journal arwy worksheet * x Det 118700 118700 Record purchase of machine 6538 Record capital repairs on machine Record installation of machine 53 1.50 1.502 3 2. Prepareers to cont deprecation on the machine on December of first and on September menos depsal Round immediate con others whole View Journal entry worksheet 12920 C View LI 3 3. Prepare entries to record the retirement of the machiner under each of the following unrelated assumptione a. It was sold for $24.000 Viewsonit 00.00.25 Journal entry worksheet 3 3. Prepare entries to record the retirement of the machiner under each of the following unrelated assumptione a. It was sold for $24.000 Viewsonit 00.00.25 Journal entry worksheet