Short Answer 2012 service a machine wer 2 (10 Points) On April 1 of the current year, a company purchased and placed in machine with a cost of $240,000. The company estimated the machine's useful life to ser vears or 60,000 units of output with an estimated salvage value of $60,000. During the ent year, 12,000 units were produced. Prepare the necessary December 31 adjusting journal entry to record depreciation for the current year assuming the company uses: The straight-line method of depreciation 2. The units-of-production method of depreciation . The double-declining-balance method of depreciation