Problem 10-03A a-c (Part Level Submission) On January 1, 2020, Riverbed Company purchased the following two machines for use in its production process. Machine A: The cash price of this machine was $52,000. Related expenditures included: sales tax $1,900, shipping costs $200, insurance during shipping $60, installation and testing costs $90, and $200 of oil and lubricants to be used with the machinery during its first year of operations. Riverbed estimates that the useful life of the machine is 5 years with a $5,200 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used. Machine B: The recorded cost of this machine was $180,000. Riverbed estimates that the useful life of the machine is 4 years with a $9,900 salvage value remaining at the end of that time period. (a) Your answer is correct. Prepare the following for Machine A. (Round answers to o decimal places, e.g. 5,125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) 1. The journal entry to record its purchase on January 1, 2020. 2. The journal entry to record annual depreciation at December 31, 2020. Debit Credit No. Account Titles and Explanation 1. Equipment 54250 Cash 54250 2. Depreciation Expense 9810 9810 Accumulated Depreciation-Equipment Click if you would like to show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 2 of 3 used (b) Calculate the amount of depreciation expense that Riverbed should record for Machine B each year of its useful life under the following assumptions. (Round depreciation cost per unit to 2 decimal places, e.g. 12.25. Round final answers to O decimal places, e.g. 2,125.) (1) Riverbed uses the straight-line method of depreciation. (2) Riverbed uses the declining-balance method. The rate used is twice the straight-line rate. (3) Riverbed uses the units-of-activity method and estimates that the useful life of the machine is 113,400 units. Actual usage is as follows: 2020, 45,000 units; 2021, 33,000 units; 2022, 21,000 units; 2023, 14,400 units. Depreciation Expense 2020 2021 2022 2023 Straight-line method 80400 99000 68400 92400 Declining-balance method Units-of-activity method $ $ Click if you would like to Show Work for this question: Open Show Work