is this correct ??

lator Golden Sales General Ledger REVENUE ASSETS 410 Sales 110 Cash 111 Petty Cash 112 Accounts Receivable 610 Interest Revenue EXPENSES 114 Interest Receivable 115 Notes Receivable 116 Merchandise Inventory 117 Supplies 119 Prepaid Insurance 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Supplies Expense 523 Delivery Expense 524 Rent Expense 120 Land 121 Sales Equipment 122 Accumulated Depreciation-Sales Equipment525 Insurance Expense 132 Goodill 133 Patents 531 Repairs and Maintenance Expense 541 Depreciation Expense-Sales Equipment 544 Amortization Expense-Patents 591 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Owner, Capital 311 ownet. Drawing 312 Income Summary alculator General Journal Instructions Golden Sales has bought $135,000 in fixed assets on January 1st associated with sales equipment. The residual value of these assets is estimated at $10,000 at the end of their 4-year service lite. Golden Sales managers want to evaluate the options of depreciation. Required: (a) Compute the annual straight -ine depreciation and provide the sample depreciation journal enty to be posted at the end of each of the years. (b) Write the journal entries for each year of the service life for these assets using the double-declining balance method Refer to the Chart of Accounts for exact wording of accountbtes Compute the annual straight-line depreciaion and provide the sample depreciadon journat entry to be posted on December 31. Refer to the Chart of Accounts for exact wording of account ades PAGE 1 JOURNAL DATE POST. REF DEBIT CREDIT Dec. 31 Depreciation Expense-Sales Equipment 31,25000 31,250.00 Write the journal entries for each year of the service lifte for these assets using the double-declining balance method on December 31 Reter he Chart of Accounts for exact wording of account odes PAGE1 OURNAL ocarr POST REF CREDIT DATE 67,50000 Depreciation Expense-Sales Equipment Dec. 31 67,500.00 Accumulated Depreciation-Sales Equipment 33,750.00 Dec. 31 Depreciation Expense-Sales Equipment 3,75000 Accumulated Depreciation-Sales Equipment 16,875 00 Dec. 31 Depreciation Expense-Sales Equipment 16.875.00 Accumulated Depreciation-Sales Equipment Depreciation Expense-Sales Equipment 6875 00 Dec. 31 6 87500 Accumulaced Depreciation-Sales Equipment