Case one: (15 marks) On May 31,2017 a company purchased a machine for 77,000 $ with 5000$ estimated salvage value and 5 years' useful life. The company used sum of the year's digits to recorded depreciation expenses during the year. After recorded depreciation in 31/12/2018 the company tested the machine for impairment and found the value in use was 36800 and sales value 37200. There wasn't any change for useful life or salvage value but the company used the double declining method to continue the depreciation. In 1/1/2020 the company exchange the machine when its market value was $23000 with other machine and paid 77,000 $ (commercial), the new machine expected to life 6 years and 7000 salvage value with465000 totals of units' production. In 2020 the company produced 165000 units. Required; journalize all entries for this company from May 31/2017 until 31/12/2020. Case two: (15 marks) Resto Corporation has authorized to issue$5,000,000 of its 8%, 5-year bonds On January 1, 2019, the bonds issued at 28/02/2019 plus accrued interest when the effective interest rate 10%. The bonds interest is quartile on April1, July 1, Octoberl, and January 1. On July 1, 2020 after paid interest Resto purchased 40% of its issued bonds on the open market at $1,500,000 and cancelled them. Resto uses the effective interest rate method for amortization of bond premiums and discounts. Required: 1- Journalize the bonds issued on February 28, 2019? 2- Journalize all interest entries during 2019? 4- Journalize the entry for redemptions of bonds on July1, 2020and entries at 31, December 2020