Question: Cougar Co. has a December 31 year end and records depreciation using the straight-line method. To prepare each required journal entry: Click on a cell in the Account Name column and select the appropriate account. An account may be used once or not at all for a journal entry. Enter the corresponding debit or credit amount in the associated column. All amounts will be automatically rounded to the nearest dollar. Not all rows in the table might be needed to complete each journal entry. If no journal entry is needed, check the "No Entry Required" box at the top of the table as your response. On January 1, Year 3, Cougar added an engine to a backhoe at a cost of $65,000, which extended the estimated useful life of the asset by 5 years. The original equipment, purchased January 1, Year 1, cost $120,000 and had an estimated useful life of 12 years. Record the entry needed on December 31, Year 3. Assume that Cougar records depreciation expense annually.