lculator Print Item smine Company purchased equipment on January 1. 20X1. This is the nitial cost Estimated residual value Expected useful life only equipment that Jasmine company owns The following information relates to this equipment $239,976 $12,120 10 years Estimated hours of useful life 24,240 hours Units-of-production 2,380 hours 1,890 hours Depreciation Method Hours operated during 20x1 Hours operated during 20x2 Jasmine Company would report December 31, 20x2 income statement. of depreciation expense on its December 31, 20x1 income statement and of depreciation expense on its Recording in the Accounting System Prepare the jounal entry that Jasmine would make to record depreciation on December 31, 20x1 Dec. 31 entry that Jasmine would make to record depreciation on December 31, 20x2: Dec.31