Suarez Company uses the straight-line method of depreciation. The company purchased a computer system on January 1, Year 1, for $1,600,000 with an expected life of six years and a salvage value of $130,000. Assuming the computer is sold on July 1, Year 3 for $1,000,000 cash, prepare the Journal entries to record depredation for the first 6 months of Year 3 and the sale of the computer. A new machine costing $1,800,000 cash and estimated to have a $60,000 salvage value was purchased on January 1. The machine is expected to produce 600,000 units of product during its 8-year useful life. Calculate the depreciation expense in the first year under the following independent situations: The company uses the units-of-production method and the machine produces 70,000 units of product during its first year. The company uses the double-declining-balance method. The company uses the straight-line method