What is the journal entry to record depreciation

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Question - On July 1, 2001, the Trembly Company Ltd. Purchased a machine for $20,000 that has an estimated life of 8 years and a disposal value of $2,000. In early 2002, a major improvement was made to the machine, costing $2,500. As a result, the annual capacity was expanded, but its estimated life remained unchanged. During 2003, Trembly revised its estimated useful life to be only three remaining years and its disposal value to $1,000. Year end = 12/31. What is the journal entry to record depreciation in 2001, 2002, and 2003?

Reference no: EM133033241

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