On January 2, Year 1, Verdi Company acquired a machine for $240,000 cash. In addition to the purchase price, Verdi spent $5,000 for shipping and installation, and $7,000 to calibrate the machine prior to use. The company estimates that the machine has a useful life of 5 years and residual value of $19,500. Prepare journal entries for the following : a. Acquisition of the machine including all costs incurred to prepare it for its intended use. b. Depreciation in the first year, Verdi uses the straight-line method of depreciation. c. Sale of the machine on December 31, Year 4, Verdi sold the machine to another companyfor$35,000