Vita Water purchased a used machine for $117,500 on January 2, 2020. It was repaired the next day at a cost of $5,250 and installed on a new platform that cost $1,650. The company predicted that the machine would be used for six years and would then have a $14,720 residual value. Depreciation was to be charged on a straight-line basis to the nearest whole month. A full year's depreciation was recorded on December 31, 2020. On September 30, 2025, it was retired. Required: 1. Prepare journal entries to record the purchase of the machine, the cost of repairing it, and the installation. Assume that cash was paid. View transaction list Journal entry worksheet 2 3 Record purchase of machine. Note: Enter debits before credits. General Journal Debit Credit Date Jan 02, 2020 Record entry Clear entry View general journal Required: 1. Prepare journal entries to record the purchase of the machine, the cost of repairing it, and the installation. Assume that cash was paid. View transaction list Journal entry worksheet