Required information (The following information applies to the questions displayed below.) At the beginning of Year 1, Copland Drugstore purchased a new computer system for 180,000. It is expected to have a five-year life and a $30,000 salvage value. c. Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View Journal entry worksheet No Date General Journal Debit Credit 1 Yr. 1 30,000 Depreciation expense Accumulated depreciation 30,000 (2) Double-declining-balance depreciation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Date General Journal Debit Credit 1 Yr. 1 x X X 2 Yr. 2 x X x x 3 Yr. 3 X X x x 4 Yr. 4 X X x X 5 Yr. 5 x