HALK NEXT Problem 10-03A a-c (Part Level Submission) On January 1, 2020, Flounder Company purchased the following two machines for use in its production process, Machine A: The cash price of this machine was $39,000. Related expenditures Included: sales tax $1,500, shipping costs $150. Insurance during shipping $70, Installation and testing costs $70, and $200 of oil and lubricants to be used with the machinery during its first year of operations. Flounder estimates that the useful life of the machine in S years with a $4,350 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used. The recorded cost of this machine was $180,000. Flounderestimates that the useful life of the machine is 4 years with a $9,950 salvage value remaining at the end of that time period. Machine : (a) Prepare the following for Machine A. (Round answers to decimal places, 0,125 Credit account titles are automatically indented when amount is entered Donor Indent manually. If no entry is required, select "No Fatry for the account titles and enter for the amounts) 1. The Journal entry to record its purchase on January 3, 2120 2. The Journal entry to record annual deprecation at December 31, 2020 No. Account Titles and Explanation Debit Credit 2 Click if you would like to show Work for this question work