1) Sraight Line Depreciation

2) Double Diminishing Balance

3) Units of Production

Ivanhoe Productions Corp. purchased equipment on March 1,2018, for $70,000. The company estimated the equipment would have a useful life of three years and produce 12,000 units, with a residual value of $ 8,300. During 2018, the equipment produced 4,900 units. On November 30,2019, the machine was sold for $18,000 and had produced 5,900 units that year. Record all the necessary entries for the years ended December 31,2018 and 2019, using the following depreciation methods: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round the depreciation rate in the double-diminishing- balance method to the nearest whole percent, eg, 43% and round depreciation per unit in the units-of-production depreciation method to 2 decimal places, eg. 2.25 and final answers to O decimal places, eg. 5,275.)