Exercise 9-10 (Video) Whispering Corporation purchased a new computer system on January 1, 2017, for $292,000 cash. The company also incurred $24,000 in installation costs and $14,000 to train its employees on the new system. The computer system has an estimated useful life of five years and an estimated salvage value of $68,730. Assume that the computer system would not be in a serviceable condition without training, Prepare the entry to record the accusition of the computer system. (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) Account Tities and Explanation Debit (Purchased computer system.) SOLIST OF ACCOUNTS Calculate the depreciation expense recognized each year over the life of the system for each of the following assumptions: fields blank.) (1) (2) Whispering uses straight-line depreciation. Whispering uses double-declining-balance depreciation. Date Straight-line depreciation method Double-declining-balance depreciation method 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR EXERCISE Provide the journal entry recorded by Whispering at the end of 2017 under the double-declining balance method. (Credi amount is entered. Do not Indent manually. If no entry is required, select "No entry for the account titles an Account Titles and Explanation Debit Credit (Depreciated fixed asset for 2017.)