a. On January 1, 2022, Emporia Country Club purchased a new riding mower for $15,000. The mower is expected to have an 8-year life with a $3,000 salvage value. What journal entry would Emporia make at December 31, 2022, if it uses straight-line depreciation?

b. Pinewood Corporation purchased a piece of equipment for $70,000. It estimated an 8-year life and $2,000 salvage value. At the end of year 4 (before the depreciation adjustment), it estimated the new total life to be 10 years and the new salvage value to be $6,000. Compute the revised depreciation, assuming Pinewood uses the straight-line method.