Task 1.2: In recent years, Gadget Company purchased three machines. Amortization methods were chosen based on the estimated life and use of each machine, shown in the chart below: For the declining balance method, the company uses double the straight-line rate. Machine C is expected to produce 50 000 units over its useful life. The actual usage was 8 000 units for 2013, 10 000 units for 2014, and 9 000 units for 2015. a) Calculate the amortization expense for each machine in 2013, 2014, and 2015. b) Calculate the accumulated amortization for each machine at December 31, 2015. c) Record the journal entry to record the amortization for machines A, B and C on December 31, 2015. Machine A Date Purchased Jan. 1, 2013 Jan. 1, 2013 Feb. 1, 2013 Cost Residual Value Useful Life Amortization Method $85,000 $5,000 10 Straight-Line $100,000 $10,000 5 Declining Balance $90,000 $5,000 6 Units of Production B C Machine A Machine B Amortization Expense Accumulated Amortization Amortization Expense Accumulated Amortization Machine C Journal - Page 30 Date 20-- Accounts and Explanation PR Debit Credit Amortization Expense Accumulated Amortization