Chong Lai Company acquired a new machine in order to expand its productive capacity. The costs associated with the machine purchase were as follows: RUnchaSselpnice matte ater $10,000 Installation costs .......... 500 Cost of initial testing ....... 600 Sales taxG a Ae mpereeeweohe ns 750 1. Make the journal entry to record the acquisition of the machine. Assume that all costs were paid in cash. 2. Make the journal entry to record the acquisition of the machine. Assume that Chong Lai Company signed a note payable for the $10,000 purchase price and paid the remaining costs in cash.