Ch.9 3. On Septernber 1, 2017, Mettock Company purchased the following machine for use its production process. The cash price of this machine was $49,500. Related expenditures included: sales tax $3,400, shipping costs $100, insurance during shipping $110, installation and testing costs $90, and $100 of oil and Jubricants to be used with the machinery during its first year of operation Metlock estimates that the useful life of the machine is 5 years with a $4,050 sa remaining at the end of that time period. Assume that the straight-line method of depreciation s used. Iue a.The journal entry to record its purchase on September 1, 2017. b.The journal entry to record annual depreciation at December 31, 2017. c. Prepare the depreciation schedule for Straight-line method. d. Prepare the depreciation schedule for Decining Balance method. C Annual Depreciation Expense Accumulated Depreciation Rate Book Value Depreciation Cost 2017 2018 2019 2020 2021 2022 Annual Depreciation Depreciation Expense Accumulated Cost Book Value Rate Depreciation 2017 2018 2019 2020 2021 2022