e Layout Formulas Data Review View Automate Tell me A101 4 X V fx 12. End of year adjustment - One year depreciation of CT machine purchased at the beginning of the year . Useful life for CT machine is 5 years. The salvage value is $15,000 - Ple w LL I y Journal Entries Q. These are the transactions that took place during Fiscal Year 2017 Create a journal entry and a T-Account entry for each of the following transactions: -NOVDON 1.$50,000 worth of medical inventories purchased by check Inventory Cash Accounts Debit Credit 2. A ten-year fire insurance policy was purchased from the insurance company for $30,000. Prepaid Insurance Cash Accounts Debit Credit co 3. Some of medical inventories were detected to have a defect. $3,000 worth of medical inventories was returned to the seller Inventory Accounts Receivable 23 Accounts Debit Credit 24 25 29 4. Puchased a new CT image machine for $ 80,000 and paid $ 5,000 for transportation. Plant & Equipment Cash Accounts Debit Credit