Required information Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Equipment costing $21,600 with a 5-year useful life and an estimated $3,600 salvage value is acquired and started operating on January 1. The equipment is estimated to produce 3,000 units of product during its life. It produced 450 units in the first year. QS 8-8 (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-declining- balance. View transaction list A Record depreciation for the first year under straight-line. B Record depreciation for the first year under units-of- production. C Record depreciation for the first year under double- declining-balance