On January 1, 2021, Wren Corporation purchased machinery for $50,000 cash. Wren had the following expenses associated with this purchase. Sales tax $10,000, delivery charges, $5,000, and customization charges, $10,000. All amounts were paid in cash. Wren estimates a two-year life and a $30,000, salvage value. Wren sold the machine for $24,000, cash on January 1m 2022. Required: Prepare all the appropriate journal entries and post them to the ledger.