On January 1, 2022. Culver Company purchased the following two machines for use in its production process Machine A The cash price of this machine was $39,500. Related expenditures also paid in cash included sales tax $3,000, shipping costs $200, insurance during shipping $60, installation and testing costs $100, and $100 of oil and lubricants to be used with the machinery during its first year of operations. Culver estimates that the useful life of the machine is 5 years with a $4,100 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used. The recorded cost of this machine was $180,000 Culver estimates that the useful life of the machine is 4 years with a $10,000 salvage value remaining at the end of that time period. Machine B: (a) Prepare the following for Machine A. (Round answers to decimal places 28,5125, List oll debit entries before credit entries Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account ttles and enter for the amounts.) 1 The journal entry to record its purchase on January 1, 2022 The journal entry to record annual depreciation at December 31, 2022 2 No. Account Titles and Explanation Debit Credit 1 Machine Cash estion 1 of 3 -74 E No. Account Tries and Explanation Debit Cret 1 Machine Cash 2 Deprecation Expense Accumulated Deprecatlon-Equipment