Situation 3: A group of new machines was purchased on February 17, 2018, under a royalty agreement with the following terms: The purchaser, Carla Vista Corp., is to pay a royalty of $1 to the machinery supplier for each unit of product that is produced by the machines each year. The machines are expected to produce 218,000 units over their useful lives. The machines' invoice price was $82,000, freight costs were $2,200, unloading charges were $1,600, and royalty payments for 2018 were $14,000. Carla Vista uses the unit of production method to depreciate its machinery. Prepare journal entries to record the purchase of the new machines, the related depreciation for 2018, and the royalty payment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round depreciation rate to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit February 17 December 31 (To record the payment of royalty expense) December 31 (To record depreciation expense) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT