Cepital Expenditure and Depreciationy Perital-Year Depreciation Willow Creek Company purchased and installed carpet in its new general offices an May 30 for o total cost of 59,072 . The carpet is estimated to have a 14 -year useful life and no residual value. a. Prepare the fournal entry necessary for recording the purchase of the new carpet. If an amount box does not require an entry, leave it blank. Mor 30 b. Record the December 31 adjusting entry for the portial-year cepreciation expense for the carpet, assuming that Wilow Creek uses the stralght-line method, if an amount box does not require an entry, leave it biank. Do not round intermediate calculations. Dec, 31