Business, 23.01.2020 05:31 inucornspineapple

Wickland company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $87,000. the machine's useful life is estimated to be 5 years, or 400,000 units of product, with a $7,000 salvage value. during its second year, the machine produces 84,500 units of product. what journal entry would be needed to record the machines' second year depreciation under the units-of-production method?

debit depletion expense $16,000; credit accumulated depletion $16,000.

debit depletion expense $16,900; credit accumulated depletion $16,900.

debit depreciation expense $16,900; credit accumulated depreciation $16,900.

debit amortization expense $16,900; credit accumulated amortization $16,900.

debit depreciation expense $16,000; credit accumulated depreciation $16,000.

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Wickland company installs a manufacturing machine in its production facility at the beginning of the...