Prepare all necessary journal entries for 2020, 2021, and 2022 related to each of the following scenarios:

(a)

Astrom Ltd. purchased a piece of equipment on January 1, 2020, for $50,200. At the time, management determined that the equipment would have a 4-year useful life and a residual value of $4,600. Astrom uses the straight-line depreciation method for its equipment, and the company has a December 31 year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)