Champion Company purchased and installed carpet in its new general offices on March 31 for a total cost of $18,000. The carpet is estimated to have a 15-year useful life and no residual value.

Required:

(a)	Prepare the journal entries necessary for recording the purchase of the new carpet.*
(b)	Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet assuming that Champion Company uses the straight-line method.*
	*Refer to the Chart of Accounts for exact wording of account titles.