G) Sat 10:26 kmarks Window Help 0 of eBook Calculator Capital Expenditure and Depreciation Willow Creek purchased and installed carpet in its new general offices on May 30 for a total cost of $12,096. The carpet is estimated to have a 12-year useful life and no residual value. a. Prepare the journal entry necessary for recording the purchase of the new carpet. May 30 Carpet. 112,096', Cash 12,096 | Check My Work s this purchase improving or extending the lite of the asset? Or is this purchase something that will only benefit this period? Leaming Objective 1, Learning Objective 2 b. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow Creek uses the straight-line method. Do not round intermediate calculations. Dec. 31 144 X Accumulated Depreciation-Carpet KPre Next Check My Work 2 8