Required information The following information applies to the questions displayed below) During Year 1, Ashkar Company ordered a machine on January at an invoice price of $21000 on the date of delivery January 2, the company paid $6.000 on the machine with the balance on credit at 10 percent interest due in six months On January 3, it paid $1.000 for freight on the machine On January 5. Asha paid installation costs relating to the machine amounting to $2,500. On July 1, the company paid the balance due on the machine plus the interest. On December 31 (he end of the accounting period, Ashkat recorded depreciation on the machine using the straight-line method with an estimated useful tife of years and an estimated residual value of $3,000 Required: 1. Indicate the effects of each transaction on the accounting equation (Enter decreases to account categories as negative amounts. if the transaction does not impact the accounting equation choose "No effect in the first column under "Assets) Date Assets Liabile wy1 January 2 January way

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