5 Part 2 of 3 4 points Required information Exercise 8-9A (Algo) Computing and recording straight-line versus double-declining-balance depreciation LO 8-2, 8-3 [The following information applies to the questions displayed below.] At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $270,000. It is expected to have a five-year life and a $40,000 salvage value. eBook Exercise 8-9A (Algo) Part b Hint Print References b. Record the purchase of the computer system and the depreciation expense for the first year under straight-line and double- declining-balance methods in a horizontal statements model. (In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, and FA for financing activity. Leave blank to indicate that an element is not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign.) COPELAND DRUGSTORE Horizontal Statements Model Balance Sheet Income Statement Stockholders Assets Statement of Cash Cash + Book Value of Computer Equity Retained Revenue Expenses Net Income Flows Earnings Straight-line depreciation Double-declining balance depreciation 6 Part 3 of 3 4 points Exercise 8-9A (Algo) Computing and recording straight-line versus double-declining-balance depreciation LO 8-2, 8-3 (The following information applies to the questions displayed below.] At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $270,000. It is expected to have a five-year life and a $40,000 salvage value. Exercise 8-9A (Algo) Part c c. Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses: (1) Straight-line depreciation. eBook Hint Print References (2) Double-declining-balance depreciation. Complete this question by entering your answers in the tabs below. Req C1 Req C2 Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses double-declining- balance depreciation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3