urrent Attempt in Progress Sandhill Limited purchased a machine on account on April 1, 2021, at an invoice price of $ 332,220. On April 2, it paid $ 2,170 for delivery of the machine. A one-year $ 3,960 insurance policy on the machine was purchased on April 5. On April 19, Sandhill paid $ 7,840 for installation and testing of the machine. The machine was ready for use on April 30. Sandhill estimates the machine's useful life will be five years or 6,153 units with a residual value of $ 77.180. Assume the machine produces the following numbers of units each year: 953 units in 2021; 1,483 units in 2022: 1,279 units in 2023; 1,390 units in 2024: and 1,048 units in 2025. Sandhill has a December 31 year end, (a) x Your answer is incorrect. Determine the cost of the machine Cost of the machine 346.190 e Textbook and Media Save for Later Attempts: 2 of 3 used Submit Answer Current Attempt in Progress Blossom uses the diminishing-balance method at one times the straight-line depreciation rate. Blossom Limited purchased delivery equipment on March 1, 2019, for $ 132,500 cash. At that time, the equipment was estimated to have a useful life of five years and a residual value of $ 9,860. The equipment was disposed of on November 30, 2021. Blossom uses the diminishing balance method at one times the straight-line depreciation rate has an August 31 year end, and makes adjusting entries annually. (a) Your answer is correct Record the acquisition of equipment on March 1, 2019. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1 Equipment 132,500 Cash 132.500 Record depreciation at August 31, 2019, 2020, and 2021 (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to O decimal places, eg. 5,275.) Date Debit Credit Account Titles and Explanation Aug. 31, 2019 Depreciation Expense Accumulated Depreciation Equipment Aug. 31, 2020 Depreciation Expense Accumulated Depreciation Equipment Aug. 31, 2021 Depreciation Expense Accumulated Depreciation Equipment e Textbook and Media