Pool Corporation, Inc., is the world's largest wholesale distributor of swimming pool supplies and equipment. Assume Pool Corporation purchased for cash new loading equipment for the warehouse on January 1 of Year 1, at an invoice price of $81,000. It also paid $3,200 for freight on the equipment, $1,900 to prepare the equipment for use in the warehouse, and $1,100 for insurance to cover the equipment during operation in Year 1. The equipment was estimated to have a residual value of $3,900 and be used over three years or 27.000 hours Required: 1. Record the purchase of the equipment, freight, preparation costs, and insurance on January 1 of Year 1. 2. Create a depreciation schedule assuming Pool Corporation uses the straight-line method. 3. Create a depreciation schedule assuming Pool Corporation uses the double-declining balance method. 4. Create a depreciation schedule assuming Pool Corporation uses the units-of-production method, with actual production of 8,600 hours in Year 1: 8,000 hours in Year 2; and 9,200 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $25,500. Record the sale of the equipment assuming the company used the straight-line method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Record the purchase of the equipment, freight, preparation costs, and insurance on January 1 of Year 1. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet Credit Date General Journal No 1 Debit 86,100 January 01 Equipment Cash 86.100 Required 2 > Prev 5 of 5 11 Next