connect Chapter 9 Assignment Question 3 fof 4 3. 1000nts oconnor Company ordered delivery, January 2, the company paid $15,000 on the machine and for the balance On January 3, it paid S600 for height on the machine On January 5, OConnor paid cash for installation costs relaing to the machine amounting to $3,600 On December 31 he end of the accounting period), oConnor recorded depreciation on the machine using the straight ine method with an estimated useful life of 10 years and an estmated residuall value of $6,400 a machine on January 1 at a purchase price of 560,000. On the date of payable Required 1. Indicate the effects (accounts, amounts, and for increase -for decrease) of each transaction (orn January 12,3, and 5) on the accounting equabon (Enter any decreases to account balances with a mius sign Jan 02 Jan 03 Jan 05 2. Compute the acquisition cost of the machine DOLL