On April 29, 2016, Quality Appliances purchased equipment for $250,000. The estimated service life of the equipment is seven years and the estimated residual value is $30,000. Quality's fiscal year...

On April 29, 2016, Quality Appliances purchased equipment for $250,000. The estimated service life of the equipment is seven years and the estimated residual value is $30,000. Quality's fiscal year ends on December 31.

Question

Depreciation Expense for 2016 using Straight-Line Depreciation would require which of the following journal entries?