Acme Boxplant purchased new equipment for their box plant. One item was a die cut machine and the other, a corrugator. Both machines are used to manufacture boxes. The die cut machine costs $900,000, and the corrugator costs $1.5 million. Acme purchased the equipment, including the sales tax, on account, with amounts due in 45 days. Additional costs were paid in cash: Die Cut Machine Sales tax Freight charges nsurance Installation of the die cut $54,000 55,000 8,500 75,000 Corrugator Sales tax Freight charges Insurance Installation of the corrugator Personnel training costs to run machine Trial Runs $90,000 55,000 8.500 75,000 50,000 10,000 1. What amount should Acme capitalize the die cut machine? 2. What amount should Acme capitalize the corrugator? 3. Record the necessary journal entries related to the expenses for the die cut machine and the corrugator. Answers must be submitted in an Excel file showing all calculations used to arrive at the final answers. Provide comments on the spreadsheet to explain the rationale for the amounts recorded. 5 Questions12 6 Capitalize Die Cut Machine Items so 10 0 12 13 Total cost $o 15 Capitalize Corrugator Machine 16 17 18 19 20 21 Items 23 24 25 26 27 28 29 Question 3 30 31 Journal Entries 32 Total cost S0 Name of Account 34 35 36 37 Name of Account Name of Account Name of Account 8 0 0 0 0 0 24 Total cost $0 25 29 Question 3 1 Journal Entries Name of Account 0 Name of Account Name of Account 35 Name of Account 0 37 38 39 Name of Account Name of Account 41 42 43 45 46 47 48