what is the acquisition cost what is the depreciation expense what is the book value of the machine at the end of the second year

[LO9-2, LO9-3] Conover Corp. ordered a machine on January 1 at a purchase price of $27,550. On delivery, January 2 , the company paid $7,500 on the machine and signed a note payable for the balance. On January 3 , it paid $200 for freight on the machine. On January 5 , Conover paid installation costs relating to the machine amounting to $1,250. On December 31 (the end of the accounting period), Conover recorded depreciation on the machine using the straight-line method with an estimated useful life of ten years and an estimated residual value of $2,500 Required: 1. Indicate the effects (accounts, amounts) of each transaction (on January 1, 2,3, and 5 ) on the accounting equation. Use the following schedule: (Enter any decreases to occounts with a minus sign.)