Equipment costing $$19,200$ with a $8-$year useful life and an estimated $$3,200$ salvage value is acquired and started operating on January $1.$ The equipment is estimated to produce $4,000$ units of product during its life. It produced $600$ units in the first year.

QS $8-8($Algo$)$ Recording depreciation journal entries LO P$1$

Record the journal entries for equipment depreciation for the first year under straight$-$line, units$-$of$-$production, and double$-$decliningbalance.