On August 1, 2020, Truongson Company purchases for $8,150,000 snow-making equipment having an estimated useful life of 10 years with an estimated salvage value of $50,000. Required: (a) Journalize the entries for depreciation expense for Year 2020 and 2021, assuming the company uses straight-line depreciation. (4 marks) (b) Repeat part a, assuming the company uses sum of digit method. (4 marks) (c) At the end of 2022, the company determined that the equipment would still be useful to the company for the next 8 years, and salvage value is estimated at $45,000. Assuming the company still uses straight-line method, compute the amount of depreciation expense for 2023. (4 marks) (d) Explain why revising factors of depreciation is needed for business. (4 marks) (e) Explain steps to carry out accounting for impairment of PPE. (4 marks)