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Question - A motor vehicle was purchased on 31 December 2019 for $84,000 excluding GST. It has an expected useful life of 6 years. Depreciation is using the straight-line method. The motor vehicle is expected to have a residual value of $6,000. Balance day is 30 June each year:
(a) How much is depreciation each full year.
(b) How much is depreciation on 30 June 2020?
(c) Prepare a journal entry to record depreciation on 30 June 2020.
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