Higher Ltd. purchased a large piece of earth-moving equipment for $5,500,000. The vehicle had six tires, each worth $150,000 and expected to last two years. This is the maximum value that should be allocated to tires. The reminder of the purchase cost, including incremental costs, was attributable 25% to the vehicle body, expected to last 6 years and 75% to the engine, expected to last 4 years. Other costs associated with the machine HST, 15% of $5,500,000 cost Delivery Repair of incidental damage done during delivery Servicing and tune-up to get the machine ready to use Required: $825,000 14,200 6,500 15,000 Prepare the journal entry to record the equipment and the associated expenditures Record all items on the list plus the $5,500,000 Invoice price. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the purchase of equipment. Note: Enter debits before credits