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Nash Company purchased machinery on January 1, 2020, for $81,600. The machinery is estimated to have a salvage value of $8,160 after a useful life of 8 years. (a) A Your answer is incorrect. Compute 2020 depreciation expense using the sum-of-the-years digits method. Depreciation expense $ Sheffield Company purchased machinery on January 1, 2020, for $93.600. The machinery is estimated to have a salvage value of $9,360 after a useful life of 8 years. (a) Compute 2020 depreciation expense using the double-declining balance method Depreciation expense $ Blossom Company owns equipment that cost $1,107,000 and has accumulated depreciation of $467 400. The expected future net cash flows from the use of the asset are expected to be $615.000. The fair value of the equipment is $492.000. Prepare the journal entry, if any, to record the impairment loss. (If no entry is required, select "No entry for the account titles and enter for the amounts Credit account titles are automatically Indented when amount is entered. Do not Indent manually) Account Titles and Explanation Debit Credit