Questor 1 Not conclete Warked out of 7.50 P rleg question Recording Asset Acquisition, Depreciation, and Disposal On January 2, 2016, verdi Company acquired a machine for $75,000. In addition to the purchase price, Verci spent $2,100 for shipping and installation and $2,000 to calibrate the machine prior to use. The company estimates that the machine has a useful life of 5 years and a residual value of $11,000. Required a. Prepare journal entries to record the acquisition costs. Description Debit Credit b. Calculate the annual depreciation expense using straight line depreciation and prepare a journal entry to record depreciation expense for 2016, Description Credit Debit . c. On December 31, 2019. Verdi sold the machine to another company for $14,000. Prepare the necessary journal entry to record the sale. Description Debit Credit Cech Accumulated depreciation Check