a. On Jan 1, 2020, Kitchener Company purchased a machine. The quoted price was $10,000 less 2% if paid within 15 days of the invoice date. The company paid for the machine within 15 days. Also paid with cash for transportation, $300; installation, $600; and sales tax, $200. What is the acquisition cost of the machine? Write the journal entry for recording the depreciation of the machine if the company uses the straight-line method, the machine has a useful life of 10 years and has a residual value of $500 for Dec 31,2020 . (6 marks) b. Kitchener Company also purchased a plant and the land on which the plant was located as a basket purchase for a total of $300,000 cash. The appraised market values of the plant and land were plant, $220,000; land, $110,000. Complete the journal entry to record the acquisition (show computation). ( 6 marks)