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Prepare journal entries for recognized full year

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Reference no: EM132519091

Question 1: Prepare Journal entries

Recognized a full year of depreciation on the $20,000 Equipment using the straight line method (salvage $5,000 and life 5 years). The Machine was purchased on March 1, 2018 and $2,500 of depreciation has already been recorded.

Reference no: EM132519091

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