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2 At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $52,000. It is expected to have a five-year life and a $7,000 salvage val Required (1) Compute the depreciation for each of the five years, assuming that the company uses straight-line depreciation. (Use cell references from the given information above to complete Straight-line depreciation for each year (2) Compute the depreciation for each of the five years, assuming that the company uses double-declining-balance depreciation. (Use cell references from the given information above to complete this question.) (Leave no cell blank.) 2 urchased a new computer system for $52,000. It is expected to have a five-year life and a $7,000 salvage value. $52,000 (2) Compute the depreciation for each of the five years, assuming that the company uses double-declining-balance depreciation. (Use cell references from the given information above to complete this question.) (Leave no cell blank.) b. Record the purchase of the computer system and the depreciation expense for the first year under straight-line and double-declining-balance methods in (Use cell references from the given information above to complete this question.) fx Accessibility tab summary: Given information for this question is presented in rows 2 . Requirement information is presented c (1) Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses straight-line depreciation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) (Use cell references from the given information above to complete this question.) c(2) Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses double-declining-balance depreciation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) (Use cell references from the given information above to complete this question.)

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