Required information E8-7 (Algo) Recording Depreciation and Repairs (Straight-Line Depreciation) LO8-2, 8-3 The following information applies to the questions displayed below) Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020, an asset account for the company showed the following balances Manufacturing equipment Accumulated depreciation through 2019 $ 129,800 59,40 During 2020, the following expenditures were incurred for the equipment Major overhaul of the equipment on January 2, 2020, that improved efficiency Routine maintenance and repairs on the equipment $10.000 1.400 The equipment is being depreciated on a straight-line basis over an estimated life of 18 years with a $11,000 estimated residual value. The annual accounting period ends on December 31 Anave View transaction list Part 3 of 3 Journal entry worksheet 09 Soints