ABC corporation has the following balances on 1 January 2019: Equipment \$1000 Accumulated Depreciation, Equipment \$ 400 During 2019, the following transactions took place: - On 1 September 2019, the company imported an additional Equipment from USA with a list price $200 paying $150 cash and the remaining amount on credit. - On 10 September 2019, the company paid Transportation for the Equipment $100 cash. - On 25 September 2019, the company paid customs and tariffs $100 cash. - The new Equipment was ready to be used starting 1 October 2019. Required: 1- Prepare all necessary journal entries. 2- Calculate and Record Depreciation Expense for 2019&2020 using the Double Declining Balance Method assuming that the estimated useful life 5 years and the estimated residual value for the old Equipment is $ 100 and for the new imported Equipment is $20. 3- Report PPE in the Statement of Financial Position at 31 December 2019 and at 31 December 2020. 4- Repeat the requirements 2&3 above once more assuming that the company is using the Straight-line method