Please do the general journal entry and explain how you came to that conclusion.

Required information Exercise 8-9A Computing and recording straight-line versus double-declining-balance depreciation LO 8- 2, 8-3 [The following information applies to the questions displayed below.] At the beginning of Year 1, Copland Drugstore purchased a new computer system for 120,000. It is expected to have a five-year life and a $20,000 salvage value. Exercise 8-9 A Part C c. Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete and correct. Date Credit No 1 General Journal Depreciation expense Accumulated depreciation Debit 20,000 Yr. 1 20,000 Required information (2) Double-declining-balance depreciation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. No Date General Journal Debit Credit