On January 1 Walker purchased a used machine for $150.000 and readies it for use the next day at a cost of $3,510. On January 4 it is mounted and required operating platform costing $4,600 and it is further readied for operation. Management estimates the machine will be used for seven years and have an $18,110 salvage value. Depreciation in to be charged on a straight line basis. at the end of 6 years on December 31 the machine is disposed of. prepare journal entries to record machine purchase and depreciation