A machine costing $70,000 with a four-vear life and an estimated $5,000 salvage value is installed in tuther Company's factery on lanuary 1,2022 . The lactory manager estimates the machine will produce 600,000 Cunits of product during its life according to this schedule: 50,000 in Year 1, 270,000 in Year 2, 120,000 in Year 3,120,000 in Year 4 Complete Journal Entry tor Double Declining Depreciation in YEAR 1 (2022) Use the Double Declining Depreciation method to prepare a full depreciation schedule (Please show all calculations) Double Declining Depreciation A machine costing $70,000 with a four-vear life and an estimated $5,000 salvage value is installed in tuther Company's factery on lanuary 1,2022 . The lactory manager estimates the machine will produce 600,000 Cunits of product during its life according to this schedule: 50,000 in Year 1, 270,000 in Year 2, 120,000 in Year 3,120,000 in Year 4 Complete Journal Entry tor Double Declining Depreciation in YEAR 1 (2022) Use the Double Declining Depreciation method to prepare a full depreciation schedule (Please show all calculations) Double Declining Depreciation