Make the necessary adjusting journal entries at december

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Reference no: EM1313911

Accounting for depreciation on plant asset and its journal entry.

On April 1, 2007, SAS Corp. purchased and placed in service a plant asset. The following information is available regarding the plant asset:

Acquisition cost ......................................................	$140,000
Estimated salvage value ..........................................	$15,000
Estimated useful life ...............................................	5 years

Make the necessary adjusting journal entries at December 31, 2007, and December 31, 2008 to record depreciation for each year using straight-line depreciation method.

	Debit	Credit
Dec 31 2007


Dec 31 2008

Reference no: EM1313911

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