Question 6 On 2 January 2018, Johnston Ltd purchased a machine with a list price of $257,700 (including GST) and credit terms of 2/10, n/30. Payment was made within the discount period. Freight costs of $5,900 plus GST and installation costs of $5,810 plus GST were also paid. The machine has a useful life of 4 years and a residual value at the end of its useful life of $26,400. A. Determine the amount that should be debited to the machinery account and prepare a general journal entry to record the purchase, assuming a financial year ending 31 December. (Enter debit entries first, followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round intermediate calculations to 2 decimal places, e.g. 5.21 and final answers to O decimal places, e.g. 5,275.) Cost of machine $ Johnston Ltd General journal (extract) Particulars Debit Credit Accounts payable Accumulated depreciation machinery (To record purchase of machine, plus freight, installation costs and GST)