ABC Company purchased a new machine on January 1, 2017, at a cost of $220,000. The machine is expected to have 10-year term life and a $20,000 salvage (Residual) value. The machine is expected to work 800,000 hours during its 10-year term life. Working during 2017 was 70,000 hours and during 2018 was 110,000 hours and during 2019 was 120,000 hours. Instructions Calculate the amount of depreciation expense for the year 2017, 2018, and 2019 following the double-declining balance depreciation method. 2. Information related to Hana Co. is presented below: 1. On April 4, purchased merchandise from Bryant Company for $50,000 terms 2/12, net/30, FOB shipping point On April 12, returned damaged merchandise to Bryant Company and was granted a $5,000 credit for returned merchandise. On April 15 paid the amount due to Bryant Company in full. Instructions a. Prepare the journal entries to record these purchases transactions on the books of Hana Co. under a perpetual inventory system 3