Select- 36. The Oakdale Country Club has purchased new merchandise display racks for the Pro Shop at a cost of $5,000. The life of the racks is five years with a $500 salvage value. Required: What is the annual depreciation amount for the first year for both the straight-line method and the double declining balance method. Straight-line method - 1st year depreciation amounts What is the Journal Entry for this depreciation (Straight line method) DC Cr. Double declining method - 1st year depreciation amounts Lihhezo Hotel coche NIEL Answered 0 of 40 (0%) Sub Pod MacBook Air