At the beginning of the current year, a company purchased and placed in service a machine with a cost of $240,000. The company estimated the machines useful life to be five years or 60,000 units of output with an estimated salvage value of $60,000. During the current year, 15,000 units were produced. Show your work below and then record the entries in the journal. Prepare the necessary December 31 adjusting entry to record depletion for the current year using the general journal. Then upload the file to Problem 1. Urgent Please.