On March $1,2023,$ Blossom Ltd$.$ purchased a machine for $$69,000$ by paying $$18,000$ down and issuing a note for the balance. The machine had an estimated useful life of nine years and an estimated residual value of $$6,900.$ Blossom Winds uses the straight$-$line method of depreciation and has a December $31$ year end. On October $30,2025,$ the machine was sold for $$64,000.$

$($a$)$

$$ Your answer is correct.

Prepare the journal entry to record the acquisition of the machine. $($Credit account titles are automaticolly indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry for the account titles and enter O for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Mar. $1,$

$2023$

Machinery

$69000$

eTextbook and Media

List of Accounts

Attempts: $1$ of $3$ used

$($b$)$

Assuming that the depreciation was correctly calculated and recorded in $2023$ and $2024,$ prepare the journal entries to update the depreciation and record the sale of the machine on October $30,2025.$ Record entries in the arder displayed in the problem statement Credit account titles are automatically indented when the dmount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Crea

$($To record depreciation expense$)$