The following transactions related to a machine purchased by Ashkar Company this year: March 1 Purchased the machine at an invoice price of $12,910; paid $8,110 cash and signed a note for the balance, payable on October 1 of this year, with annual interest at a rate of 10 percent. March 3 Paid freight of $305. March 5 October 1 December 31 Paid installation costs of $530. Paid the balance due plus the related interest. Recorded straight-line depreciation on the machine based on an estimated useful life of 10 years and an estimated residual value of $4,145. Required: 1. Indicate the accounts affected and the amount of the effect of each transaction (March 1, 3, 5, and October 1) on the accounting equation. (Enter any decreases to account balances with a minus sign. Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Date March 1 Assets Machinery Cash 12,970 8,110= March 3 Machinery March 5 October 1 Liabilities + + + + + + + 2. Compute the acquisition cost of the machine. (Round the final answer to the nearest whole dollar.) Acquisition cost Shareholders' Equity