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Cheyenne Corp. purchased a new machine on October 1, 2022, at a cost of $131.000. The company estimated that the machine will have a salvage value of $18,500. The machine is expected to be used for 10,000 working hours during its 5-year life. Compute the depreciation expense under declining balance using double the straight-line rate for 2022 and 2023 2022 2023 Depreciation expense Monty Corp. purchased a delivery truck for $34,000 on January 1, 2022. The truck has an expected salvage value of $4,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 14,100 in 2022 and 14,000 in 2023 Assume that Monty uses the straight-line method. Prepare the journal entry to record 2022 depreciation expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit In recent years, Monty Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine and various methods have been used. Information concerning the machines is summarized in the table below. Machine 1 Acquired Jan 1, 2020 July 1, 2021 Nov. 1, 2021 Cost $ 98,600 90,500 77.500 Salvage Value $ 15,000 10,500 7.500 Useful Life (in years) 8 5 Depreciation Method Straight-line Declining balance Units-of-activity 2 3 6 For the declining-balance method, Monty Company uses the double-declining rate. For the units of activity method, total machine hours are expected to be 35.000. Actual hours of use in the first 3 years were 2021.900; 2022,5,000; and 2023.7.000. Compute the amount of accumulated depreciation on each machine at December 31, 2023. Accumulated depreciation $ MACHINE 1 MACHINE 2 $ MACHINE 3 $