6 Check my work 00 sasa O Connor Company ordered a machine on Januarytat a purchase price of $80,000. On the date of delivery, January 2 the company paid $20.000 on the machine and signed a long term note payable for the balance. On January 3, it paid $800 foreight on the machine On January 5 O'Connor paid cash for installation costs relating to the machine mounting to $4800. On December 31 the end of the accounting period, Connor recorded depreciation on the machine using the straight line method with an estimated useful life of 10 years and an estimated residual value of $4600. Required: 1. Indicate the effects accounts, amounts and for increase - for decrease of each transaction on January 2.3 and on the accounting equation 2. Compute the acquisition cost of the machine 3. Compute the depreciation expense to be reported for the first year 4. What should be the book value of the machine at the end of the second year? oor Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required) Required 4 Indicate the effects (accounts, amounts, and for increase - for decrease) of each transacbon (on January 1.2., and 5) on the accounting on (Enterre with a tinut sign) Date Ats Labaites Stockholm Equity Jan 01 Jan 02 >> Jan 03 Jan 06 Heterences Complete this question by entering your answers in the tabs below. Required 1 Required Required Required 4 Compute the acquisition cost of the machine. Anton Cont (Required 1 Required 3 > 4. What should be the book value of the machine at the end of the second year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 trouired Required 4 Compute the depreciation expense to be reported for the first year. (Do not round intermediate calculations.) Depreciation Expense ances Complete this question by entering your answers in the tabs below. Required Required 2 Required Recured What should be the book value of the machine at the end of the second year? (Do not round intermediate calculation) Book