Problem 9-7A a-b Nossom Productions Corp purchased equipment on March 1, 2018, for $75,000. The company estimated the equipment would have a useful life of three years and produce 12,000 units with a residual value of $7.800. During 2018, the equipment produced 4,900 units. On November 30, 2019, the machine was sold for $17,000 and had produced 5,700 units that year Your answer is partially correct. Try again. Record all the necessary entries for the years ended December 31, 2018 and 2019, using the following depreciation methods: (Credit account titles are automatically indented when the amount is entered. De net indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round the depreciation rate in the double-diminishing-balance method to the nearest whole percent, .g. 43% and round depreciation per unit in the units of production depreciation method to 2 decimal places, e.g. 2.25 and final answers to decimal places, e.g. 5,275.) (1) Straight line Date Account Titles and Explanation 2018 Debit Credit Mar i equipment T Cash Deci Opreciation Expense Accumulated Depreciation - Equipment Nov. 30 Depreciation Expense Equipment Nov. 30 pepreciation Expense 1 Accumulated Depreciation (To record depreciation expense) Now 30 Cash L L Accumulated Depreciation Equipment loss on Disposal Equipment 1 75,000 (To record the sale of machine) (2) Double-diminishing balance Date Account Titles and Explanation 2018 Credit Mar. 1 Equipment Dec 31 Depreciation Expense vate Account nes and explanation veort Credit | 75000 Mar. 1 Tequipment 1 Cash | 1 1 || 75000 | || | | || Dec. 31 Depreciation Expense TL Accumulated Depreciation - Equipment 2019 Nov. 30 Depreciation Expense I T INTE IL | Accumulated Depreciation - Equipment (To record depreciation expense) Nov. 30 Cash Accumulated Depreciation - Equipment Gain on Disposal TL NT DDD | Equipment 75000 Debit Credit Date Account Titles and explanation 2018 Mar. 1 Equipment 75000 T Cash 75000 Dec. 31 Depreciation Expense Accumulated Depreciation - Equipment 27440 2019 Nov. 30 Depreciation Expense 31920 Accumulated Depreciation - Equipment (To record depreciation expense) Nov. 30 Cash Accumulated Depreciation - Equipment Gain on Disposal Equipment 75000 Your answer is incorrect. Try again. Complete the following schedule for each method of depreciation and compare the total expense over the two-year period. (Round answers to O decimal Straight- Double-Diminishing Units-of- Line Balance Production Depreciation expense 2018 2019 Total depreciation expense for two years +Loss (or - gain) on disposal -Net expense for two years SHOW LIST OF ACCOUNTS