Required information Use the following information for the Quick Studies below. (Algo) [The foliowing information applies to the questions displayed below] Equipment costing $21,600 with a 5 -year useful life and an estimated $3,600 salvoge 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 un its in the first yeat. QS 8-8 (Algo) Recording depreciation journal entries LO P1 Record the journal entries for equipment depreciation for the first year under straight-line, un ts-of-production, and double-declining: balance. Journal entry worksheet Record depreciation for the first year under straighteline. Aoter Enter debar before cretea. Required information Use the following information for the Quick Studies below. (Algo) The following information applies to the questions displayed beiow] Equipment costing $21,500 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 ife, It produced 450 units in the first year. QS 8-8 (Algo) Recording depreciation journal entries LO P1 Record the journal entries for equpment deprecietion foe the first year under straight-line, units-of-production, and doublo-decliningbalance. Journal entry worksheet Record depreciation for ble fint yeor under units-of-production. Mece: Euter deblis tefors oesas: 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 acpulred and started operating on January 1, The equipment is estimated to produce 3,000 units of product during its ife. It produced 450 units in the first yeac QS 8-8 (Algo) Recording depreciation journal entries LO P1 Record the journal entries for equipment depreciation for the first year under straight-line, units-of-production, and double-decliningbalance. Journal entry worksheet Record depreciation for the fint year under double-declining-balance