QUESTION 3 (16 marks) Gymtrak is a local manufacturer of sports equipment. The entity's current year ended on 31 December 2022. The following information relates to a new machine acquired during the year in order to manufacture soccer balls: 1 February: The machine was purchased FOB destination point from an overseas supplier for USD55 696. The destination was Gymtrak's premises. The exchange rate on 1 February 2022 was USD1: R19. The payment for the machine was made on this day. 28 February: The machinery arrived at the premises of Gymtrak. 1 March: The machinery was installed and installation fees paid in cash on this date amounted to R8 354. The machine was then brought into use on this day when the manufacturing of soccer balls commenced. The machinery has a useful life of 5 years and is depreciated using a straight-line basis. It was estimated that the residual value of the machine is R13 924 . REQUIRED: Prepare the general journal entries of Gymtrak for the year ended 31 December 2022 to account for the machine. Ignore closing off journals. Show all dates and workings. (16 marks)