Compass Company acquired a dredging machine at a cost of $100,000 on January 1, 2018. It has a useful life of 4 years and an estimated residual value of $20,000. What entry would Compass make if it purchased the dredge for cash on January 1? Assuming that the firm makes its depreciation expense accrual at the end of each year what entry would Compass make if it a) used the straight line method of depreciation or b) if it used the double declining balance method of depreciation? What entry would Compass male if it sold the dredge for $75,000 at December 31, 2018 after making its annual depreciation entry using a) straight-line depreciation method and b) using double-declining balance depreciation method