Machine #5027 Component Single metal housing Motor Blade Date of purchase Jan. 12/18 Jan. 12/18 Jan. 12/18 Depreciation Method SL DDB SL Cost $ 42,eee 30,eee 10.200 $ 82,2ee Est. Residual Est. Life $ 6,eee 2,000 1.ee 5 yrs 15 yrs 10 yrs SL = Straight-line: DDB = Double-declining-balance On January 7, 2020, the machine blade cracked and it was replaced with a new one costing $11.200 purchased for cash (the old blade was scrapped). The new blade had an estimated residual value of $1,000 and an estimated life of five years and would continue to be depreciated using the straight-line method. During 2020. It was determined that the useful life on the metal housing should be Increased to a total of 17 years instead of 15 years and that the residual value should be increased to $9.000. Required: 1. Prepare the entry to record the purchase of the replacement blade. Answer is not complete. No Date General Journal Debit Credit 1 Jan 07, 2020 Machine #5027-blade (new) 11,200 2 Jan 07, 2020 3,680 Accumulated depreciation, machine #5027-blade Loss on disposal Machine #5027-blade (old) O 10,200 2. Calculate the total depreciation expense to be recorded on Machine #5027 for 2020. Total Depreciation expense