1A) Novak Company purchased machinery on January 1, 2020, for $100,000. The machinery is estimated to have a salvage value of $10,000 after a useful life of 8 years. Compute 2020 depreciation expense using the straight-line method. Depreciation expense 1B) Compute 2020 depreciation expense using the straight-line method assuming the machinery was purchased on September 1, 2020 Depreciation expense 2A) Novak Company purchased machinery on January 1, 2020, for $100,000. The machinery is estimated to have a salvage value of $10,000 after a useful life of 8 years. Depreciation expense 2B) Compute 2020 depreciation expense using the sum-of-the-years-digits method, assuming the machinery. was purchased on April 1. 2020. (Round answer to 0 decimal places, e.g. 5,125.) Depreciation expense 3) Novak Company owns equipment that cost $1,125,000 and has accumulated depreciation of $475,000. The expected future net cash flows from the use of the asset are expected to be $625,000. The fair value of the equipment is $500.000. Prepare the journal entry, if any, to record the impairment loss. (no entry is required, select "No entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)