Question 2 A Company purchased a machine on account on December 5, 2018, for $50,000, with the term 1/15, n/30. At the same date, the company paid $500 for delivery of the machine. On December 15, company paid the required amount for the machine. On December 31, the company paid $3,000 for its installation and testing. During installation, there was a little damage to the frame. It cost $400 to repair it. On January 1, 2019, the machine was ready for use. REQUIRED: Prepare the journal entries; compute the cost of machine