uigley Co. bought a machine on January 1, 2016 for $2,800,000. It had a $240,000 estimated residual value and a ten-year life. An expense account was debited on the purchase date. Quigley uses straight-line depreciation. This was discovered in 2018. Instructions Prepare the entry or entries related to the machine for 2018. Ignore taxes. (10 points) NOTE: Always List the larger Debit and/or Credit first. 1) Record the entry which mainly affects the Balance Sheet: Ignore taxes. (10 points) Time left 1:18:40 37 NOTE: Always List the larger Debit and/or Crean rst. 1) Record the entry which mainly affects the Balance Sheet: 46 956 1) Record the entry which mainly affects the Income Statement 4 55 59 Exe 61 Finish