On March 20, 2020, FineTouch Corporation purchased two machines at auction for a combined total cost of $202,000. The machines were listed in the auction catalogue at $110,000 for machine X and $155,000 for machine Y. Immediately after the auction, FineTouch had the machines professionally appraised so it could increase its insurance coverage. The appraisal put a fair value of $106,650 on machine X and $130,350 on machine Y. On March 24, FineTouch paid a total of $5,000 in transportation and installation charges for the two machines. No further expenditures were made for machine X, but $6,700 was paid on March 29 for improvements to machine Y. On March 31, 2020, both machines were ready to be used. The company expects machine X to last five years and to have a residual value of $3,000 when it is removed from service, and it expects machine Y to be useful for eight more years and have a residual value of $14,950 at that time. Due to the different characteristics of the two machines, different depreciation methods will be used for them: machine X will be depreciated using the double-diminishing-balance method and machine Y using the straight-line method. Prepare the journal entry to record the depreciation expense to December 31, 2020, for each machine. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to the nearest whole dollar, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Depreciation Expense 27.945 27.945 Depreciation Expense 9,900 Accumulated Depreciation - Machinery Y 9.900