Orion Four Mills purchased a new machine and made the following expenditures: Purchase price Sales tax Shipment of machine Insurance on the machine for the first year Installation of machine $60,000 5,250 350 550 1,700 The machine, including sales tax, was purchased on account, with payment due in 30 days. The other expenditures listed above were paid in cash Required: Record the above expenditures for the new machine. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Tasty Subs acquired a delivery truck on October 1, 2021, for $13,500. The company estimates a residual value of $1,500 and a six-year service life Required: Calculate depreciation expense using the straight-line method for 2021 and 2022, assuming a December 31 year-end. 2021 2022 Depreciation expense The Donut Stop acquired equipment for $17,000. The company uses straight-line depreciation and estimates a residual value of $3,000 and a four-year service life. At the end of the second year, the company estimates that the equipment will be useful for four additional years, for a total service life of six years rather than the original four. At the same time, the company also changed the estimated residual value to $1,500 from the original estimate of $3,000. Required: Calculate how much The Donut Stop should record each year for depreciation in years 3 to 6. Cost of the equipment Less: Accumulated Depreciation (Years 1 and 2) Book value, end of year 2 Less: New residual value New depreciable cost Remaining service life Annual depreciation in years 3 to 6 Required information [The following information applies to the questions displayed below.) On January 1, 2021, Weaver Corporation purchased a patent for $252,000. The remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years. In January 2023, the company incurred legal fees of $72,000 in successfully defending a patent infringement suit. The successful defense did not change the company's estimate of useful life. Weaver Corporation's year-end is December 31 2. What is the balance in the Patent account at the end of 2023? Balance in the Patents account