On Jan 1, 2016, Herzing Corp bought a manufacturing machine for $1.2 million. The machine had an estimated residual value of $203,000 and an estimated useful life of 7 years. On Dec 31, 2019 Herzing made updates to the machine that made it more efficient and perform operations better. These updates cost the company $60,000 in cash and increased the machine's estimated useful life by 3 years.

a.) What is the depreciation expense recorded on Dec 31, 2016

b.) What is the correct journal entry on Dec, 31 2019

c.) What is the balance in accumulated depreciation Dec 31, 2020

Assume the straight-line method for all questions