O'Connor Company ordered a machine on January 16 a purchase price of $90.000. On the date of delivery, January 2 the company paid $23.000 on the machine and signed a long term note payable for the balance On January 3, it paid $900 for freight on the machine On January 5, O'Connor paid cash for installation costs relating to the machine amounting to $5,400. On December 31 (the end of the accounting periodi. O'Connor recorded depreciation on the machine using the straight line method with an estimated useful life of 10 years and an estimated residual value of $9.600 Required: 1. indicate the effects accounts, amounts, and for increase - for decrease of each transaction on January 2 2.9, and 5) on the accounting equation 2. Compute the acquisition cost of the machine 3. Compute the depreciation expense to be reported for the first year 4. What should be the book value of the machine at the end of the second year? Complete this question by entering your answers in the tabs below. Required: Haque ? Reques Regard Indicate the effects accounts, amourts, and for increme - for decrease of each transaction con Baruary 1, 2, 3, and 5) on the accounting equation. (treer any decreases to account balance + with a minus Liebe Stecher Jan 01 03 JOS Mequired) 4. What should be the book value of the machine at the end of the second year? Complete this question by entering your answers in the tabs below. Required 1 Required I Required 3 Required 4 Compute the acquisition cost of the machine. Acquiston Cool Complete this question by entering your answers in the tabs below. Required: Required 2 Requires Required 4 Compute the depreciation expense to be reported for the first year. (Do not round intermediate calculations.) Depreciation Expense Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required) What should be the book value of the machine at the end of the second year? (Do not round intermediate calculations.) Book Value