???calculate the yearly depreciation expense

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Reference no: EM133434330

Question: On January 1, 2021, Smith purchased a new mixer that cost $600 to make her cookies to sell for her company. She estimates the mixer will have a residual value of $50 at the end of 10 years. Assume she uses the straight-line depreciation method.

Calculate the yearly depreciation expense. Show your calculation.

Create the journal entry to record depreciation expense for 2022.

Reference no: EM133434330

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