Q2. On Jan 01, 2016 Jawwal Co. purchased a manufacturing plant costing $270,000. Jawwal estimated the plant's life and residual value at 5 years and $20,000, respectively. In Jan 2020 Jawwal revised the plant's life up from 5 to 7 years, and the residual value down to $1,000. For two marks journalize the depreciation expense for 2020, assuming Jawwal uses the straight-line method of depreciation. SHOW PLAUSIBLE CALCULATIONS TO GET CREDIT Dec 31 2020 Dr. Cr