Pool Corporation, Inc., is the world's largest wholesale distributor of swiimming 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 $102,000. It also paid $6,000 for freight on the equipment, $3,300 to prepare the equipment for use in the warehouse, and $1,800 for insurance to cover the equipment during operation in Year 1. The equipment was estimated to have a residual value of $5,300 and be used over three years or 34,000 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 10,000 hours in Year 1; 9,400 hours in Year 2; and 10,600 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $32,500. 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 Date Debit Credit No General Journal Equipment January 01 1 Prepaid insurance Cash