Brown Company paid cash to purchase the assets of Coffee Company on January 1, 2019. Information is as follows: Total cash paid $3,500,000 Assets acquired: Land $600,000 Building $500,000 Machinery $900,000 Patents $500,000 The building is depreciated using the double-declining balance method. Other information is: Salvage value $50,000 Estimated useful life in years 40 The machinery is depreciated using the units-of-production method. Other information is: Salvage value, percentage of cost 10% Estimated total production output in units 200,000 Actual production in units was as follows: 2019 40,000 2020 60,000 2021 20,000 The patents are amortized on a straight-line basis. They have no salvage value. Estimated useful life of patents in years 30 On December 31, 2020, the value of the patents was estimated to be $100,000 Where applicable, the company uses the year rule to calculate depreciation and amortization expense in the years of acquisition and disposal. Its fiscal year-end is December 31. The machinery was traded on December 2, 2021 for new machinery. Other information is: Fair value of old machinery $240,000 Trade-in allowance $288,000 List price for new machinery $403,000 Estimated useful life of new machinery in years 20 Estimated salvage value of new machinery $8,064 The new machinery if depreciated using the stright-line method and year rule. On August 14, 2023, an addition was made. This amount was material. Other relevant information is as follows: Amount of addition, paid in cash $100,000 Number of years of useful life from 2023 (original machinery and addition): 30 Salvage value, percentage of addition 10% Required: Prepare journal entries to record: 1 The purchase of the assets of Coffee. 2 Depreciation and amortization expense on the purchased assets for 2019. 3 The decline (if any) in value of the patents at December 31, 2020. 4 The trade-in of the old machinery and purchase of the new machinery. 5 Depreciation on the new machinery for 2021. 6 Cost of the addition to the machinery on August 14, 2023. 7 Depreciation on the new machinery for 2023.