On January 1, 2012, Zakiuddin Company purchased the following two machines for use in its production process Machine The cash price of this machine was $55,000. Related expenditures included: sales tax A: $2,750, shipping costs $100, insurance during shipping S75, installation and testing costs S75, and $90 of oil and lubricants to be used with the machinery during its first year of operation. Zakiuddin estimates that the useful life of the machine is 4 years with a $5,000 salvage value remaining at the end of that time period. Machine The recorded cost of this machine was $100,000. Zakiuddin estimates that the useful B life of the machine is 4 years with a $10,000 salvage value remaining at the end of that time period Instructions (a) Prepare the following for Machine A 1. The journal entry to record its purchase on January 1, 2012. 2. The journal entry to record annual depreciation at December 31, 2012, assuming the straight-line method of depreciation is used (b) Calculate the amount of depreciation expense that Zakiuddin should record for machine B cach year of its useful life under the following assumption. 1. Zakiuddin uses the straight-line method of depreciation. 2. Zakiuddin uses the declining-balance method. The rate used is twice the straight-line rate 3. Zakiuddin uses the units-of-activity method and estimates the useful life of the machine is 25,000 units. Actual usage is as follows: 2012, 5,500 units: 2013. 7.000 units: 2014 8,000 units, 2015, 4,500 units. (e) Which method used to calculate depreciation on machine B reports the lowest amount of depreciation expense in year 1 (2012)? The lowest amount in year 4 (2015)? The lowest total amount over the 4-year period