Required information Use the following information for the Exercises below. (Algo) {The following information applies to the questions displayed below) On April 1. Cyclone Co. purchases a trencher for $316,000. The machine is expected to last five years and have a salvage value of $58,000 Exercise 8-12 (Algo) Double-declining balance, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining balance method. (Enter all amounts as positive values.) End of Period Depreciation for the Period Depreciation Partial Depreciation Rate Year Extinse Accumulated Depreciation Book Value Beginning of Annual Period Period Book Value Year 1 Year 2 s S S 0 Exercise 8-14 (Algo) Ordinary repairs, extraordinary repairs, and betterments LO C3 Okl Company pays $304100 for equipment expected to last four years and have a $30,000 salvage value. Prepare Journal entries to record the following costs related to the equipment. 1. Pald $26.800 cash for a new component that increased the equipment's productivity 2. Pald $6700 cash for minor repales necessary to keep the equipment working well, 3. Paid $19,750 cash for significant repairs to increase the useful life of the equipment from four to seven years, View transaction list Journal entry worksheet Record the betterment cost of $26,800 paid in cash, Nota: Entu debits before credits General Journal Debit Credit Transaction 1