On January 1,2014,Friar Company purchased a machine for $175,000 that was expected to last 6 years and have a residual value of $16,000.On January 4,2017,Friar Company paid $25,000 for improvements to the machine,which increased the total estimated useful life from 6 to 10 years and increased the residual value to $19,500.Friar uses straight-line depreciation.
(1)What account should be debited in the journal entry to record the $25,000 improvements?
(2)What amount of depreciation expense should be recorded for 2017?

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The Answer of On January 1,2014,Friar Company purchased a machine for $175,000 that was expected to last 6 years and have a residual value of $16,000.On January 4,2017,Friar Company paid $25,000 for improvements to the machine,which increased the total estimated useful life from 6 to 10 years and increased the residual value to $19,500.Friar uses straight-line depreciation.
(1)What account should be debited in the journal entry to record the $25,000 improvements?
(2)What amount of depreciation expense should be recorded for 2017?

On January 1,2014,Friar Company Purchased a Machine for $175,000 That