Please check if it's correct. If not, please explain and re-do it.

Thanks

Assignment 2 O Hw Equipment was acquired on January 1, 2021, at a cost of $12,000. The equipment was originally estimated to have a salvage value of $1,000 and an estimated life of 10 years. Depreciation has been recorded through to December 31, 2024, using the straight-line method. On January 1, 2025, the estimated salvage value was revised to $1,200 and the useful life was revised to a total of 8 years. Required: Prepare the journal entries required to record the Depreciation expense for 2025. Assignment 3 0 Hw Assignment 2: Cost: 12,000, salvage value - Annual Dep. 1,000 year : !2, 600 -1, 600 lo - 1,100 Accumulated Depreciation 1,000+ 4 = 4,400 (4 year) Jan 1, 2015, nevised: - Salvage value 1,200 useful life : 8 NBU : 12,000 -4,400 - Annual Dep: 1, 500 - 1,200 844 . 7,600 00 1,600 Journal Date Accounts and Explaination 20.25 Jan -01 Depreciation expens, equipment Accumulated deprecration equipment 5,600 1,800