On April 1,Year 1,Raines Co Make the Necessary Adjusting Journal Entries at December 31,Year 1,and

On April 1,Year 1,Raines Co.purchased and placed a plant asset in service.The following information is available regarding the plant asset:
$$\begin{array} { l l } \text { Acquisition cost } & \$ 130,000 \\\text { Estimated salvage value } & \$ 15,000 \\\text { Estimated useful life } & 5 \text { years }\end{array}$$
Make the necessary adjusting journal entries at December 31,Year 1,and December 31,Year 2 to record depreciation for each year under the double-declining balance depreciation method:

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