On July 1, 2020, Yorkton Company purchased for $400,000 equipment having an estimated useful life of eight years with an estimated residual value of $50,000. Depreciation is calculated to the nearest month. The company has a December 31 year-end. Required: Complete the following schedules: (Amount to be deducted should be indicated by a minus sign.) 2020 2021 2022 1. Double-declining-balance method: Equipment Less: Accumulated depreciation Year-end book value Depreciation expense for the year 2. Straight-line method: Equipment Less: Accumulated depreciation Year-end book value Depreciation expense for the year On January 1, 2020, Bona Vista Co. purchased land, a building, equipment, and tools for a total price of $4,570,000, paying cash of $1,154,000 and borrowing the balance from the bank. The bank appraiser valued the assets as follows: $1,128,100 for the land; $1,322,600 for the building; $972,500 for the equipment; and $466,800 for the tools. Prepare the entry to record the purchase. (Do not round intermediate calculations.)