On January 1, 2022, PetraCo ordered a new machine to help increase production for one of its most popular products. The machine had an invoice price of $30,000 and PetraCo was required to pay shipping of $1,200 and insurance during shipping of $300 by boat from British Columbia to Toronto. The machine arrived on January 5,2023 and was installed at a cost of $800 and calibrated and tested for a cost of $200. PetraCo's fiscal year runs from January to December. Round all final answers to the nearest dollar. REQUIRED: Prepare a journal entry (or entries) to record all costs associated with the new machine