Current Attempt in Progress

Blossom Productions Corp. purchased equipment on March 1, 2021, for $49,600. The company estimated the equipment would have a useful life of three years and produce 12,000 units, with a residual value of $10,000. During 2021, the equipment produced 4,800 units. On November 30, 2022, the machine was sold for $18,000 and had produced 6,000 units that year.

Record all the necessary journal entries for the years ended December 31, 2021 and 2022, using the following depreciation methods: (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round the depreciation rate in the double diminishing-balance method to the nearest whole percent, e.g. 43% and round depreciation per unit in the units-of-production depreciation method to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 5,275.) (1) Straight-line Date Account Titles and Explanation Debit Credit 2021 Mar. 1 Equipment Cash Dec. 31 Depreciation Expense Accumulated Depreciation Equipment 2022 Nov. 30 Depreciation Expense Accumulated Depreciation Equipment (To record depreciation expense) Nov. 30 Accumulated Depreciation - Equipment Loss on Disposal Equipment (2) Double-diminishing balance Account Titles and Explanation Debit Credit Date 2021 Mar. 1 Equipment Cash Dec. 31 Depreciation Expens Accumulated Depreciation Louipment 2022 Nov. 30 Depreciation Experte Accumulated Depreciation Equipment (To record depreciation expense) Nov. 30 Accumulated Depreciation Equipment Ecument (To record the sale of machine) (3) Units-of-Production Date Account Titles and Explanation Debit Credit 2021 Mar. 1 Equipment Casb Dec. 31 Depreciation Expanse Accumulated Depreciation Equipment 2022 Nov. 30 Depreciation Expense Accumulated Depreciation Equipment (To record depreciation expense) Cash Nov. 30 Accumulated Depreciation Equipment Gain on Disposal Equipment (To record the sale of machine)