On January 1, 200X, your calendar year company purchases a machine with the data shown below. What entry would you record for depreciation on December 31, 200X, under the double declining balance method? Cost $10,000 Salvage value $2,000 Useful life 8 years

Accumulated Depreciation 2,000 Depreciation Expense 2,000

Depreciation Expense 2,500 Machine 2,500

Depreciation Expense 2,000 Accumulated Depreciation 2,000

Depreciation Expense 2,500 Accumulated Depreciation 2,500