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supplier of the new machine agrees to take $$82,800$ off the price of the new machine even though the fair value of the old machine on the day of the $$32,800.$

Required

a$)$ Prepare the depreciation table over the life of the old machine.

Do not enter dollar signs or commas in the input boxes.

Round all dollar figure answers to the nearest whole number.

b$)$ Record the journal entry for the machine exchange, assuming that the exchange has commercial substance. Assume the company immediately paid for the new machine.

Enter all debit accounts in alphabetical order.

Enter all credit accounts in alphabetical order.