(The following information applies to the questions displayed below.) manufactures a variety of aluminum cans used in soft drinks and other beverages. At the beginning of 2020, an asset account for the company showed the following balances: Manufacturing equipment Accumulated depreciation through 2019 $ 158,400 62,400 During 2020, the following expenditures were incurred for the equipment: Major overhaul of the equipment on January 2, 2020, that improved efficiency Routine maintenance and repairs on the equipment $ 19,000 1,200 The equipment is being depreciated on a straight-line basis over an estimated life of 18 years with a $18,000 estimated residual value. The annual accounting period ends on December 31. Required: Prepare the adjusting entry that was made at the end of 2019 for depreciation on the manufacturing equipment. (Do not round your termediate calculations. 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 adjusting entry for depreciation on the manufacturing equipment during 2019. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal 2. Starting at the beginning of 2020, what is the remaining estimated life? Remaining life years 3. Prepare the journal entries to record the two expenditures during 2020. (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 the major overhaul of the equipment. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal