Current Attempt in Progress

On January $1,2022,$ Splish Brothers Company purchased the following two machines for use in its production process.

Machine A: $,$ The cash price of this machine was $$46,500.$ Related expenditures also paid in cash included: sales tax $$3,700,$

shipping costs $$100,$ insurance during shipping $$50,$ installation and testing costs $$70,$ and $$200$ of oil and lubricants

to be used with the machinery during its first year of operations. Splish Brothers estimates that the useful life of the

machine is $5$ years with a $$4,300$ salvage value remaining at the end of that time period. Assume that the straight$-$

line method of depreciation is used.

Machine B: $,$ The recorded cost of this machine was $$180,000.$ Splish Brothers estimates that the useful life of the machine

is $4$ years with a $$14,980$ salvage value remaining at the end of that time period.

$($a$)$

Prepare the following for Machine A$.($Credit account titles are automatically indented when amount is entered. Do not indent manually.

If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

The journal entry to record its purchase on January $1,2022.$

The journal entry to record annual depreciation at December $31,2022.$