Carla Vista Company Ltd. shows the following entries in its Equipment account for 2020. All amounts are based on historical cost. Equipment 1/1 Balance 111,000 6/30 Cost of equipment sold (purchased prior to 2020) 19,000 8/10 Purchases of equipment 26,000 8/12 Freight on equipment purchased 600 8/25 Installation costs 2,200 11/10 Repairs 410 Correct answer icon Your answer is correct. Prepare any necessary correcting entries. (Credit account titles 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 0 for the amounts.) Account Titles and Explanation Debit Credit Repairs and Maintenance Expense 410 Equipment 410 eTextbook and Media List of Accounts Incorrect answer icon Your answer is incorrect. Assuming that depreciation is to be charged for a full year based on the ending balance in the asset account no matter when acquired, calculate the proper depreciation charge for 2020 under both methods listed below. Assume an estimated life of 10 years for all equipment at the time of acquisition, with no residual value. The equipment included in the January 1, 2020 Equipment balance was purchased in 2018. 1. Straight-line $ 2. Declining-balance (assume twice the straight-line rate) $?