Required information Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Equipment costing $21,600 with a 5 -year useful life and an estimated $3,600 salvage value is acquired and started operating on January 1 . The equipment is estimated to produce 3,000 units of product during its life. It produced 450 units in the first yeat. QS 8-8 (Algo) Recording depreciation journal entries LO P1 Record the joumal entries for equipment depreciation for the first year under straight-ine, units-of-production, and double-decliningbalance. Journal entry worksheet Record depreciation for the first year under straight-line. Note: Enter debits before credits. Journal entry worksheet Record depreciation for the first year under units-of-production. Note: Enter debits before credits. Journal entry worksheet Record depreciation for the first year under double-declining-balance. Note: Enter debits before credits