Pete's Propellers Company showed the following information in its Property, Plant, and Equipment Subledger regarding Machine #5027 Machine #5027 Component Date of purchase Depreciation Est. Method" Cost Residual Est.Life. Single metal housing Jan. 12/18 Motor Jan. 12/18 Blade Jan. 12/18 SL DOS SL $ 62,000 $8,000 15 yrs 40,000 16,200 $118,200 6,000 10 yrs 1,400 5 yrs "SL-Straight-line: DDB - Double-declining-balance On January 7, 2020, the machine blade cracked and it was replaced with a new one costing $13,200 purchased for cash (the old blade was scrapped). The new blade had an estimated residual value of $2,000 and an estimated life of five years and would continue to be depreciated using the straight-line method. During 2020, it was determined that the useful life on the metal housing should be increased to a total of 18 years instead of 15 years and that the residual value should be increased to $10,000 Required: 1. Prepare the entry to record the purchase of the replacement blade