At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $140,000. It is expected to have a five-year life and a $20,000 salvage value.

c. Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses: (1) Straight-line depreciation. (2) Double-declining-balance depreciation.

Prepare the journal entries to recognize depreciation for each of the five years, assuming that the con depreciation. (If no entry is required for a transaction/event, select "No journal entry required" in the Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet 5 Note: Enter debits before credits. Journal entry worksheet Record depreciation expense for year 2 . Note: Enter debits before credits. Journal entry worksheet 1 Record depreciation expense for year 3. Note: Enter debits before credits. Journal entry worksheet Record depreciation expense for year 4 . Note: Enter debits before credits. Journal entry worksheet Record depreciation expense for year 5. Note: Enter debits before credits