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Davie Farms Corp purchased a combine on 4/19/21 for $660,000 and paid $17.000 to have...

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Accounting

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Davie Farms Corp purchased a combine on 4/19/21 for $660,000 and paid $17.000 to have it delivered. They paid $65,000 for a GPS system required to operate it with their computer network They paid $48.000 for 2 years of insurance and $42.000 in sales tax. They placed it in service on 9/1/21 On 10/1/21 they paid $25,500 for a real and $6,500 for routine maintenance REQUIRED (2 points): Provide the amount capitalized for the combine by Davie Farms Corp. SCENARIO 1 REQUIRED (2 points): Provide the journal entry to record the annual depreciation on 12/31/21 assuming an 8 year life and 10% residual value using straight-line depreciat (round answers to nearest dollar REQUIRED (2 points): Provide the journal entry to record the sale of the combine on 12/31/21 for $520,000 Scenario 2 REQUIRED (4 points): Provide the journal entries to record the annual depreciation on 12/31/21 AND 12/31/22 assuming a 7 year life and 15% residual value using double-declining depreciat (round rate to 2 decimals, round answers to nearest dolar)

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