All you have to do is jounalize. I want to double check mine.

4. On January 1, 2019 Baylee Company purchased equipment costing $275,000. The estimated useful life of the equipment is 10 years and the estimated salvage value is $15,000. a. Determine the depreciation rate using double declining balance method 20% b. Calculate the first year's depreciation $55,000 C. What is the book value at the end of the first year? $220,000 Date Accounts Debit Credit Jan 1