The following information applies to the questions displayed below.] Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2017, an asset account for the company showed the following balances: $135,000 56,000 Manufacturing equipment Accumulated depreciation through 2016 During 2017, the following expenditures were incurred for the equipment: Routine maintenance and repairs on the equipment Major overhaul of the equipment that improved efficiency on January 2, 2017 $ 600 12,000 The equipment is being depreciated on a straight-line basis over an estimated life of 17 years with a $16,000 estimated residual value. The annual accounting period ends on December 31. Required 1. Prepare the adjusting entry that was made at the end of 2016 for depreciation on the manufacturing equipment. (Do not round your intermediate calculations.) View transaction list Journal entry worksheet Record the adjusting entry for depreciation on the manufacturing equipment during 2016. Note: Enter debits before credits. General Journal Credit Transaction Debit Record entry Clear entry View general journal 2. Starting at the beginning of 2017, what is the remaining estimated life? Remaining life years Required 3. Prepare the joumal entries to record the two expenditures during 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the expenditure for routine maintenance and repairs on the equipment. Note: Enter debits before credits Debit Credit Transaction General Journal View general journal Record entry Clear entry