In Y10, Charlevoix Company changed from the double-declining balance method for its building to the straight-line method. The building was purchased on January 1, Y8, had a cost of $650,000 and a salvage value of $70,000. Please compute depreciation for Y10 and prepare the journal entry to record Y10 depreciation. Debit Credit On January 2, 97, Charlevoix purchased equipment for $85,000. At that time they assigned the equipment a 10 year life and $5,000 salvage value. Sum-of-years-digits depreciation is used. On January 2, Y10, as a result of additional information, the company determined that the equipment has a remaining useful life of 4 years and a $3,000 salvage value. Sum-of-years-digits continues to be used. Please compute depreciation for Y10 and prepare the journal entry to record Y10 depreciation. Debit Credit In Y10, Charlevoix Company changed from the double-declining balance method for its building to the straight-line method. The building was purchased on January 1, Y8, had a cost of $650,000 and a salvage value of $70,000. Please compute depreciation for Y10 and prepare the journal entry to record Y10 depreciation. Debit Credit On January 2, 97, Charlevoix purchased equipment for $85,000. At that time they assigned the equipment a 10 year life and $5,000 salvage value. Sum-of-years-digits depreciation is used. On January 2, Y10, as a result of additional information, the company determined that the equipment has a remaining useful life of 4 years and a $3,000 salvage value. Sum-of-years-digits continues to be used. Please compute depreciation for Y10 and prepare the journal entry to record Y10 depreciation. Debit Credit