Stockton Corporation purchased a new computer system on January 1, 1996, for $300,000 cash. The company also incurred $25,000 in installation costs and $10,000 to train its employ¬ ees on the new system. The computer system has an estimated useful life of five years and an estimated salvage value of $70,000. jfjrsr REQUIRED:

a. Prepare the entry to record the acquisition of the computer system. Calculate the depreciation expense recognized each year over the life of the system for y each of the following assumptions: S’?*** ('?&r (1) Stockton uses straight-line depreciation. Accuf*-. pcf (2) Stockton uses sum-of-the-years’-digits depreciation