On January 1, 2022, Swifty Company purchased the following two machines for use in its production process. Machine A: The eash price of this machine was $53,500. Related expenditures also paid in cash included: sales tax $2,600, shipping costs $100, insurance during shipping $120, installation and testing costs $80, and $150 of oil and lubricants to be used with the machinery during its first year of operations. 5 wifty estimates that the useful life of the machine is 5 years with a $4,200 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used. Machine B: Tht recorded cost of this machine was $180,000. Swifty 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. (a) Prepare the following for Machine A. (Round answers to 0 decimal places, e.s. 5, 125. List all 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 tities and enter o for the amounts.) 1. The journal entry to record its purchase on January 1,2022. 2. The journal entry to record annual depreciation at December 31,2022