Company Corp. has purchased a machine. The following information pertains costs related to the purchase of this machine. Use the given Excel spreadsheet to prepare journal entries and move amounts to the general ledger. For this set of entries, it is only necessary to work up to the General Ledger (G.L.) tab. Submit only 1 Excel file per group.

1) On 1/1, company purchases a machine for $200,000. The machine is expected to last 10 years with no salvage value. Company also spends $4,000 to have the machine delivered and $1,000 on insurance on the machine during transit.

2) On 6/30, company spends $40,000 to improve the machines output. The machine will not last longer as a result of this improvement. Company also spends $1,000 in general maintenance on the machine.

3) Make the adjusting entry for depreciation. Company uses straight-line depreciation for all tangible assets.