1:47 PM Sun Mar 19 X Chapter 10 Class Assignment BAT4M Vender Manufacturing Inc. purchased three capital assets. Information concerning the assets is summarized below: Asset Purchase Date Purchase Price Estimated Residual Value Useful Life in Years Amortization Method Bender Feb. 1/20 $7,000 $1,000 12 Straight-line Boxer Mar. 1/20 $60,000 $10,000 5 Units-of-activity Forklift Jan. 1/20 $84,000 $32,000 10 Declining Balance Additional Information: - - For the units-of-activity method, lifetime machine hours are expected to be 5,000. Actual hours of use in 2020 were 1,369, and in 2021 they were 810. The Declining balance rate is double the straight-line rate. Instructions: (a) Complete the tables below for each machine at December 31, 2020 and 2021. Create the journal entry to record the amortization for the Boxer on Dec 31, 2020. Bender Year 0000 Calculation (Straight-Line) Amortization Expense ($) Accumulated Amortization Balance Net Book Value of Asset 42%