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 Your answer is partially correct. Try again. Prepare the entry to record the acquisition of the computer system. (Credit account tes are automatically Indented when the no entry is required, select "No entry for the account tities and enter for the amounts.) TUNTontenedorian Account Titles and Explanation Debit Equipment Cash (Purchased computer system.) VIDEO: STHILAR EXERCISE CALCULATI JRCES E] Your answer is partially correct. Try again. Calculate the depreciation expense recognized each year over the life of the system for each of the following assumptions: (If an fields blank.) (1) (2) Whispering uses straight-line depreciation Whispering uses double-declining-balance depreciation Study Date Straight-line depreciation method Double-declining-balance depreciation method 12/31/17 50254 128000 12/31/18 50254 76800 12/31/19 50254 46080 12/31/20 50254 390 12/31/21 50254 SHOW LIST OF ACCOUNTS Your answer is partially correct. Try again. 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 Depreciation Expense 128000 Accumulated Depreciation 128000 (Depreciated fixed asset for 2017.) SHOW LIST OF ACCOUNTS LINK TO TEXT