Springfield Corporation purchases a new machine on March $3,20$X$4$ for $$71,000$ in cash. It pays an additional $$2,800$ to transport and set up the machine. Springfield$$s accountant determines that the equipment has no residual value and that the useful life is five years. It is expected to generate $2,700,000$ units during its life. Assume Springfield employs the half$-$year convention.

Record the purchase of the machine.

$1.$ Assume that Springfield uses the straight$-$line method of depreciation. Record depreciation expense for the first two years of the machine$$s life.

$2.$ Assume that Springfield uses the double$-$declining balance method of depreciation. Record depreciation expense for the first two years of the machine$$s life.

$3.$ Assume that Springfield uses the units$-$of$-$production method of depreciation. During Year $1,$ the machine produces $500,000$ units. During Year $2,$ the machine produces $435,000$ units. Record depreciation expense for the first two years of the machine$$s life.