Beaver Construction purchases new equipment for $$50,400$ cash on April $1,2024.$ At the time of purchase, the equipment is expected to be used in operations for seven years $(84$ months$)$ and have no resale or scrap value at the end. Beaver depreciates equipment evenly over the $84$ months $($$$600/$month$).$

Required:

$1.$&$2.$ Record the necessary entries in the Journal Entry Worksheet below.

$3.$ Calculate the year$-$end adjusted balances of Accumulated Depreciation and Depreciation Expense $($assuming the balance of Accumulated Depreciation at the beginning of $2024$ is $$0).$