Exercise 9-10 (Video) Concord Corporation purchased a new computer system on January 1, 2017 for $1.000 th The company was incurred $20.000 n The computer system has an estimated useful le of five years and an estimated salvage value of $73,350. Assume that the computer system o n costs and 512,000 horas employees on the new System not be a serviceable condition without own titles are automatically indented when the amount is een orienta Prepare the entry to record the acquisition of the computer system. (Credit select "No entry for the account tires and enter for the amounts.) lly. If entry is required Account Totes and Explanation (Purchased computer system.) SHOW LINT OF ACCOUNTS Calculate the depreciation expense recognised each year over the le of the system for each of the following sumptions: (11 an answer is rera please enter a. Do not have any fields lank) (1) (2) Concord uses straight line depreciation Concord uses double declining balance deprecution Date Straight line depreciation method Double declining balance depreciation method 12/11 12/31/18 12/31/1 12/31/20 12/31/21 ind u stry for the a nd for the outs) Art Titles and want Deprecated we w tor 2017)