Create a journal entry for depreciation for the end of the first year that the item was purchased and create a journal entry to record the sale of that item at the end of its life for the following:

On June 11th 2015, Blue Star Dealership bought a computer for $1000. Its expected salvage value is 400$. The estimated useful life (in storage) is 600gb. The useful life in years is 5 years.

On April 20th 2020, Blue star dealership sold the computer for $500 after using 300gb of storage.