Required: What are the appropriate journal entries? (There is only one debit and credit)

March 31: Pane purchases a machine for cash to make stained glass windows. The contract has terms of 2/10, n/30. The company pays in time to receive the discount. The machine has no residual value. (Hint: sales tax and discount should be calculated as a % of list price). Contract Price: Transportation Costs: Installation Costs: Sales Tax (% of original invoice amount): Useful Life of Machine (years) $125,700 $4,300 $7,500 7.5%