.A machine costimg $93,750 with a five-year life and $5,600 residual value was purchased on january 2. Compute depreciation for each of the five years, using the double-declining balance method. 1. year 1 $___ 2. year 2 $___
3. year 3 $___
4. year 4 $___
5. year 5 $___
a. Determincthe amount of depletion expense for the current year. b. Journalize the adjusting entry to recognize the depletion expense. If an amount box does not require an entry, leave it blank.