On March 20,2020, FineTouch Corporation purchased two machines at auction for a combined total cost of $212.000 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 approisal put a fair valuc of $111,320 on machine X and $130,680 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 $6,200 was paid on March 29 for improvenents 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 $4,200 when it is removed from service, and it expects machine Y to be useful for eight more years and have a residual value of $14,900 at that time. Due to the ditferent character istics of the two machines, different depreciation methods will be used for themc 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 purchase of the machines, indicating the initial cost of each. (Credit account titles are automotically indented when the amount is entered. Do not indent manually. Round percentoge to 1 decimal place, for es, 40.1 and Round answers to the nearest whole dollar, eg, 5,275. If no entry is required, select 'No Entry' for the account titles and enter Ofor the ameunts