On October 13, 2020, SatCom Corporation purchased two satellites at a liquidation auction for a combined total cost of $191,200,000. The satellites were listed in the auction catalogue at $105,500,000 for Sat. A and $263,750,000 for Sat. B. Immediately after the auction, SatCom had the satellites professionally appraised so it could increase its insurance coverage. The appraisal put a fair value of $108,716,400 on Sat. A and $239,733,600 on Sat. B. On October 20, SatCom paid a total of $120,000 to relocate Sat. A to a new orbital location, SatCom paid $45,000,000 to complete the construction of Sat. B and an additional $52,300,000 to launch Sat. B into orbit. On October 31, 2020 both satellites were ready for operation The company expects Sat. A to last five years and to have a residual value of $14,600,000 when it is removed from service, and it expects Sat. B to be useful for 15 years and have a residual value of $18.999.800 at that time. Due to the different characteristics of the two satelites, different depreciation methods will be used for them: Sat Awill be depreciated using the double-diminishing- balance method and Sat. B using the straight-line method. (a) Your answer is partially correct. Prepare the journal entry to record the purchase of the satellites, indicating the initial cost of each. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" Your answer is partially correct. Prepare the journal entry to record the purchase of the satellites, indicating the initial cost of each. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter for the amounts. Round percentage allocation to 1 decimal place, e.g. 13.5% and final answers to 0 decimal places, e.g. 125.) Debit Credit Date Account Titles and Explanation Oct. 13 Sals Cash 191200,000 e Textbook and Media List of Accounts Assistance Used Save for Later Attempts: unlimited Submit Answer (b)