Problem 2 On January 7, 2014 a company purchased a machine for $75,000 that was expected to last 5 years and to have a salvage value of $5,000. At the beginning of the machine's third year the company decided that the machine's estimated useful life should be revised to a total of 7 years instead of the original 5 years. Also, the salvage value was re-estimated to be $2,000. Straight-line depreciation will be used throughout the machine's life. 2a. Prepare a depreciation schedule (using Excel) showing columns for: year-ended; annual depreciation expense; accumulated depreciation; and remaining book value for each year of its useful life. 2b. Assume the same information above except that the machine is sold on June 30, 2019 for $15,000 cash. Prepare any general journal entries needed to record the sale of the machine