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Question 3 (20 points) On January 1st, 2009, Pumba Company purchased equipment for $360,000. The estimated useful life of this asset was 4 years, and the salvage value was $60,000. Required: 1. Part A: Date 2. Prepare a schedule showing depreciation for the life of the asset, assuming that the company used the straight line method of depreciation. Dec 31,2009 Dec 31, 2010 Dec 31, 2011 Dec 31, 2012 cost Depreciation expense Accumulated Net Book depreciation Value Prepare the journal entry to record depreciation for the first year only