E$9-6($Algo$)$ Computing and Recording Straight$-$Line Depreciation $[$LO $9-3]$

Turquoise Associates bought a machine at the beginning of the year at a cost of $$25,000.$ The estimated useful life was five years and

the residual value was $$3,000.$

Required:

Complete a depreciation schedule for the straight$-$line method.

Prepare the journal entry to record Year $2$ depreciation.

Complete this question by entering your answers in the tabs below.

Complete a depreciation schedule for the straight$-$line method.