Please explain it step by step please I beg

PROPERTY PLANT AND EQIPMENT Masco Industries, a New York corporation, purchased a machinery from Canton, Ohio on April 1, 2013. The purchase price was $950,000. The machinery had an estimated useful life of 10 years. The estim residual value is $50,000. Masco uses the straight line method of depreciation. The following cost were incurred in the acquisition of the asset ated $20,000. Shipping costs Insurance in transit $4,000. nstallation costs: $10,000. NYS Inspection fees: $1,000. The machinery was deemed to be impaired on December 31, 2017. The loss on impairment was $1,500,0000 Masco sold the equipment for $4,000,000ion July 1, 2018. Requirement: Create a complete set of accounting records including journal entries and general ledger accounts