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On May $19,2020,$ Sinnott Corporation purchased two pieces of used equipment for $$590,000.$ Sinnott had been trying to acquire both pieces of equipment for some time. The seller had advertised the processing equipment for $$319,800$ and the packaging equipment for $$291,200.$ Sinnott was able to negotiate a package deal from the seller for buying both pieces. Immediately after the purchase, Sinnott had the equipment appraised so it could increase its insurance coverage. The appraisal indicated that the fair value of the processing equipment was $$312,780,$ while the packaging equipment had a fair value of $$288,720.$

Sinnott paid $$21,900$ in transportation costs to get both pieces of equipment to the company's manufacturing facility. Sinnott also paid $$5,200$ for installation charges for the processing equipment and $$1,600$ in installation charges for the packaging equipment. All of the installation work was completed on May $28,2020,$ and Sinnott began to use the equipment.

Sinnott's management expects that the processing equipment will have a useful life of six years and a residual value of $$32,508.$ The packaging equipment is expected to have a useful life of five yeas and a residual value of $$17,512$ at that time. Sinnott uses the straight$-$line method for depreciating its equipment.

$($a$)$ Prepare the journal entry to record the depreciation expense to dec $31,2020$