Check my work Required information E8-7 (Algo) Recording Depreciation and Repairs (Straight-Line Depreciation) LO 8-2, 8-3 The following information apples to the questions displayed below) Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020, an asset account for the company showed the following balances Manufacturint equipment Accumulated depreciation through 2019 $ 129,800 59,400 During 2020, the following expenditures were incurred for the equipment Major overhaul of the equipment on January 2, 2020, that improved efficiency Routine maintenance and repairs on the equipment $ 18,000 1,600 The equipment is being depreciated on a straight line basis over an estimated life of 18 years with a $11.000 estimated residual value. The annual accounting period ends on December 31 E8-7 Part 1 Journal entry worksheet