On Jan. 1, 2017, Ski Corp. purchased a new snow-grooming machine for $ 50,000. The machine is estimated to have a 10-year life with a $2,000 salvage value. What journal entry would Ski Corp. make at Dec. 31, 2017, if it uses straight-line method of depreciation.

1- Calculate depreciation expense.

2- Journalize the first year's depreciation.