Equipment records for Byerly Construction Co. for the year follow. Byerly Construction uses the straight-line method of depreciation. In the case of assets acquired by the fifteenth day of the month, depreciation should be computed for the entire month. In the case of assets acquired after the fifteenth day of the month, no depreciation should be considered for the month in which the asset was acquired.

REQUIRED
1. Calculate the depreciation expense for Byerly Construction as of December 31, 20--.
2. Prepare the entry for depreciation expense using a generaljournal.

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Salvage Value Date Purchased January 17 March 23 May 14 July 1 September 19 Purchase Price Useful Life Asset Truck #1 Truck #2 Molding #1 Molding #2 7 years $22,000 24,000 18,000 24,000 35,000 $1,000 4,000 5 3,000 6,000 3,000 6. Forklift