Question: QUESTION 2 (6 marks) Prepare general journal entries to record the following events: (Show your calculations) Apr 1, 2019 Purchased a machine for $80,000 cash.

QUESTION 2 (6 marks) Prepare general journal entries to record the

QUESTION 2 (6 marks) Prepare general journal entries to record the following events: (Show your calculations) Apr 1, 2019 Purchased a machine for $80,000 cash. The machine had a salvage value of $15,000 and an estimated life of 10 years. Dec 31, 2019 Recorded depreciation expense for the year. Jan 1, 2020 Added a computer control device to the machine for a cost of $5,400. The control improved the quality of the machine's operation, extended its service life for 2 years beyond the original estimate, and will provide a revised salvage value of $6,000 at the end of the machine's life. Jul 1, 2020 The machine was cleaned, inspected and two worn parts were replaced at a cost of $1,500. No estimates of life or salvage value changed because of this routine maintenance. Dec 31, 2020 Depreciation expense was recorded for the year. Record your entries and calculations below: Date Account Title and Explanation Debit Credit PR

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