X-it Company, signed a $500,000, 5-year note payable to buy a new industrial machine. The company paid $2,000 cash for transportation of the machine and $1,000 cash for installation costs. The journal entry to record this transaction will include a (Check all that apply.) $2,000 debit to Freight-in $500,000 debit to Machinery $500,000 credit to Note Payable $3,000 credit to Cash $503,000 debit to Machinery $1,000 debit to Installation Expense