Equipment records for Johnson Machine Co. for the year follow. Johnson Machine 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 Johnson Machine as of December 31, 20--.
2. Prepare the entry for depreciation expense using a generaljournal.

Purchase Price Salvage Value Date Useful Life Asset Purchased Truck #1 January 1 April 10 May 1 June 18 September 1 $20,000 8 years $4,000 4,000 3,000 2,000 Tractor #1 Tractor #2 18,000 14,000 10 Forklift 40,000 4,000