Question - On January 2, 2017, the Matthew band acquired sound equipment for concert performances at a cost of $69,000. The band estimated it will use 5 years. It estimates that after 5 years it can sell the equipment for $2000. Matthew band uses straight line depreciation but realizes at the start of the second year that due to concert bookings beyond expectations, this equipment will last only a total of 3 years. The salvage value will remain the same. Record the depreciation journal entry for the end of the second year.