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ep D The company purchased $400,000 of machinery on November 1, 2021 and paid for...

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ep D The company purchased $400,000 of machinery on November 1, 2021 and paid for installation costing $5,000 and signed an interest-bearing note due in three months for the total amount. The interest rate is 10% Books are closed monthly. Do the journal entry for the issue of the note, required adjusting entries and journal entry for the settlement (repayment) of the note. The machinery has a useful life of 5 years and a residual value of $45,000. Record the depreciation expense on December 31, assuming the following methods: leren i) Straight line ii) Double declining Dobo (405.000- 162.887 Technina 2

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