Question: Question 3 (8 points) Saved ACCT-2043 Spring 2020 9.12 On January 1, 2019, Entertainment Inc. purchased a machine for $97,000. The machine had an expected

Question 3 (8 points) Saved ACCT-2043 Spring 2020 9.12 On January 1, 2019, Entertainment Inc. purchased a machine for $97,000. The machine had an expected life of 4 years and estimated residual value of $19,000 On January 1, 2021 the original estimated life was changed to 7 years with no change in residual value. Entertainment Inc. uses the straight-line method of depreciation to the nearest whole month and its year end is December 31 Required: a. Record the journal entry for depreciation for the year ended December 31, 2019. (4 marks) b. Record the journal entry for depreciation for the year ended December 31, 2021. (4 marks) Round to the nearest whole dollar and show your calculations

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