Wonderland Company purchased equipment costing $74,000. The equipment had a 5-year useful life and a salvage value of $6,000. In the attached worksheet, complete the depreciation schedule for the equipment. Then below the schedule, give the general journal entry to record the depreciation for year 1.

Exam 3-Workpaper #6 Question 19 ook Year Depreciation Expense Accumulated Depreciation Value 1 2 5 GENERAL JOURNAL CR Account Tites Date DR