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Accounting

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Required information
[The following information applies to the questions displayed below.]
At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $110,000. It is expected to have a five-year life and a $20,000 salvage value.
c. Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses:
(1) Straight-line depreciation.
(2) Double-declining-balance depreciation.
Complete this question by entering your answers in the tabs below.
Rer c1
Req C2
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.)
Journal entry worksheet
1
Note: Enter debits before credits.
image

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