The following nformation apples to the questions displayed belowj Saturn Co purchases a used machine for $167,000 cash on January 2 and readies it for use the next day at an $3,420 cost. On January 3, it is installed on a required operating platform costing $1,080, and it is further readied for operations. The company predicts the machine will be used for six years and have a $14,600 residual value. Depreciation is to be charged on a straight-line bosis. On December 31, at the end of its fifth year in operations, it is disposed of 3 5.00 polnts 1. Prepare journal entries to record the machine's purchase and the costs to ready and install it. Cash is paid for all costs incurred. (Omit the "$" sign in your response.) Date General Journal Debit Credit Machinery purchase cost Jan. 2 Click to select) (Click to sel Preparation cost Jan 3 Click to s Click to s Operating platform cost (Click to select) Jan. 3 Click to select value: 5.00 points 2. Prepare journal entries to record depreciation of the machine at December 31. (Omit the "$" sign in your response.) (a) Its first year in operations. General Journal Date Dec. 31 Debit Credit (Click to select) Click to selecty (b) The year of its disposal. Date Dec. 31 Click to select) General Journal Debit Credit Click to select) volue: 5.00 points 3. Prepare journal entries to record the machine's disposal under each of the following separate assumptions (Omit the "$" sign in your response) (a) It is sold for $13,500 cash. Date Dec. 31 (Click to sele General Journal Debit Credit Click to select Click to select (Click to select) (b) It is sold for $45,000 cash. Date Dec. 31 General Journal Debit Credit (Click to select) (Click to select) (Click to select) (Click to select) (c) It is destroyed in a fire and the insurance company pays $24,000 cash to settle the loss claim. Date General Journal Debit Credit Dec. 31 (Click to select) Click to select) Click to select) Click to select)