Question: (3, The WHOSEY Company purchased a machine on 1/1/07 for $180,000. The economic life of the Asset is 5 years. The salvage value is $50,000.

(3, The WHOSEY Company purchased a machine on 1/1/07 for $180,000. The economic life of the Asset is 5 years. The salvage value is $50,000. The economic life in terms of output is 65,000 units. In years 2007, 2008, 2009, 2010, 2011, production was 15,000, 30,000, 25,000, 5,000 and 3,000. A. Straight-Une Double-Declining Balance Units of Production Year 1 Depreciation Accumulating Depreciation Book Value Year 2 Year 5 B PREPARE THE GENERAL JOURNAL ENTRy for THE SALE OF THE MACHINE ON 12/31/09 for 15000

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