Liang Industries purchased a machine for $$160,000$ cash on the first day of Year $1.$ In addition to the purchase price, the company spent an additional $$10,000$ cash for shipping and installation. Liang originally estimated that the machine had a useful life of $10$ years and a residual value of $$15,000.$

On the last day of Year $4,$ Liang sold the machine to another company for $$60,000$ cash.

Prepare journal entries for the following transactions:

a$.$ Acquisition of the machine $($all costs$)$

b$.$ Depreciation in the first year. Liang uses the straight$-$line method of depreciation.

c$.$ Sale of the machine on the last day of Year $4.($Assume that Liang was using the equipment up to the sale date.$)$

Note: Select $"$N$/$A$"$ if no account affected.

$\backslash$table$[[$Account$,$Debit,Credit$],[$Machinery$,170000,170000],[$Cash$,0,0],[$a$.$ To record cost of acquiring the machine,$15550,15,500],[$Depreciation expense,$0,0],[$Accumulated depreciation,,$0],[$b$.$ To record first year depreciation,$0,0],[,0,0]]$