Required information Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Equipment costing $36,000 with a 4-year useful life and an estimated $6,000 salvage value is acquired and started operating on January 1 . The equipment is estimated to produce 5,000 units of product during its life. It produced 750 units in the first year. QS 10-8 (Algo) Recording depreciation journal entries LO P1 Record the journal entries for equipment depreciation for the first year under straight-line, units-of-production, and double-decliningbalance. Journal entry worksheet Record depreciation for the first year under straight-line. Note: Enter debits before credits. Journal entry worksheet Record depreciation for the first year under units-of-production. Note: Enter debits before credits. Journal entry worksheet