Please answer all parts A-B. Please show all work and computations for all answers. Please do not answer if you are unable to answer all parts A-B or unable to show all work and computations for answers

Exercise 5 Wilcox Company acquires in 2020 four machine that have the following characteristics: Machine Cost ,Estimated Residual Value, Estimated Service Life A $ 26,000 $ 2,000 6 years B 19,000 1,000 9 years C 30,000 5,000 5 years D 28,000 ? 7 years

Instructions: a. Prepare the journal entry to record the acquisition of the machines and the depreciation expense for the first year assuming the composite method is used on a straight-line basis. Round the depreciation rate to three decimal place. You must show computations to receive credit. b. Prepare the journal entry to the sale of Machine B after fours for $10,000. Round all amounts to the nearest whole dollar.