Apples and Oranges Orchards Pty Ltd purchased machinery for its manufacturing process on 1 March 2019. The machinery cost $550000. Apples and Oranges estimates that the machinery has a useful life of 5 years and will have a $70000 residual value. It is also estimated that the machinery will produce 200000 units over its useful life. Apples and Oranges Orchards Pty Ltd has a 31 December year end. Required: Answer the following independent questions. a. Prepare the journal entry to account for Depreciation Expense year ended 31/12/2019 using straight line depreciation (1 Mark) b. Assuming that in year ending 31/12/2019 20000 units were produced and in year ending 31/12/2020 45000 units were produced what is the carrying amount of the machinery on 31/12/2020? The company uses the units- of-production depreciation method. (1 Mark) Narrations are NOT required and Ignore GST