OConnor Company ordered a mactine on January 1 at a purchase price of $45,000. On the date of delwely, Jatisay 2 , the compary paid 511.000 on the machine and signed a fong-term note payable for the bylance. On Jaruary 3 , it paid 5500 for freight on the trachine. On Jartary 5,0 Connor paid cash for instatiation costs relating to the machine amounting to $2700. On December 31 ithe end of the accounting periodf. OCorinor recorded deprecistion on the machine using the Mraght line method witt an estimated usefuil ife of to years and an estimated residual value of $4,800 Required: 1. hicate the effects (accounts, amounts, and + foc increase, - for decreasef of each transaction (on lanuary 1,2.3. and 5 on the accounting equation 2. Compute the acquision cost of the machine 3. Computhe the depieciation ewpense to be reported for the lins year. 4. What should be the book value of the machine at the end of the second yea? Corsplete this questien by enteritis your answers in the tabs belew