Read-Only. Return to the assignment to answer this question. FINAL HOMEWORK ASSIGNMENT LREPLACES 23KA Qiuestion 1 borrow funds from its several lines af credit at 8%. The press is expected to have a 6 -year life and a $36,000 salvage value. (a) Prepare the journal entry for the purchase on December 31, 2025. (Round present value factar calculations to 5 decimal ploces, es. 1.251.24 and the final answers to 0 decimal places eg. 58,971 . If no entry is required, select "No Entry' for the account tities and enter Ofor the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually List all debit entries before credit entries.) (b) Prepare any necessary adjusting entries relative to depreciation (use straight-line) and amortization (use effective-interest method) on December 31,2026 . (Round answers to 0 decimal pioce, eg. 38,548 . If no entry is required, select 'No Entry" for the account tities and enter O for the amounts. Credit account tities are automatically indented when the amount is entered. Do not indent manualil. List all debit entries before credit entries. (c) The parts of this question must be completed in order. This part will be avaliabie when you complete the part above