BACK Problem 9-7Aa-b Crane Productions Corp. purchased equipment on March 1, 2018, for $64,000. The company estimated the equipment would have a useful We of three years and produce 12,000 units, with a residual value of $8,200. During 2018, the equipment produced 4,900 units. On November 30, 2019, the machine was sold for $16,000 and had produced 5.800 units that year. Record all the necessary entries for the years ended December 31, 2018 and 2019, using the following depreciation methods: (Credit accountles are automatically indented when the amount is entered Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round the depreciation rate in the double-diminishing balance method to the nearest whole percent, e.g. 43% and round depreciation per unit in the units of production depreciation method to 2 decimal places eg. 2.25 and final answers to decimal places a 5.275) (1) Straight-line Date Account Titles and Explanation Debit Credit 2018 Mar. 1 Equipment 64000 Cash 6400 Dec. 31 Depreciation Expense 15500 Accumulated Depreciation - Equipment 15500 2019 1915 Nov. 30 Depreciation Expense Accumulated Depreciation - Equipment (To record depreciation expense) 19150 Nov. 30 cash 16000 Accumulated Depreciation Equipment 30050 loss on sale of equipment 17050 opment (To record the sale of machine (2) Double-daminishing balance Date Account Tities and Explanation 2018 Debat Credit Mar. 1 Dec. 31 2019 Nov. 30 (To record deprecation expense) Nov. 30 (To record the sale of machine) (3) Units of Production Debit Credit Date Account Tities and Explanation 2018 Docu (3) Units-of-Production Date Account Titles and Explanation 2015 Debat Credit Mar. 1 Dec. 31 2019 Nov. 30 (To record deprecation expense) Nov. 30 (To record the sale of machine) SHOW LIST OF ACCOUNTS LINE TO TEXT LINK TO TEXT omplete the following schedule for each method of depreciation and compare the total expense over the two-year period. (Round answers to decimal places, .. 5.275.) Straight Double-Diminishing Units-of- Line Balance Production epreciation expense 2018 2019 tal depreciation expense for two years Loss (or gain) on disposal -Net expense for two years SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT y accessing this Question Assistance, you will learn while you can points based on the Point Potential Policy set by your instructor Question Attempts: 0 of 5 used SAVE FOR LATER % Earn Maximum Points available only you answer this question correctly in four attempts or less