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Prepare journal entries to record purchase of the machine

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Question - Vita Water purchased a used machine for $122,900 on January 2, 2020. It was repaired the next day at a cost of $10,500 and installed on a new platform that cost $1,800. The company predicted that the machine would be used for six years and would then have a $18,320 residual value. Depreciation was to be charged on a straight-line basis to the nearest whole month. A full year's depreciation was recorded on December 31, 2020. On September 30, 2025, it was retired. Prepare journal entries to record the purchase of the machine, the cost of repairing it, and the installation. Assume that cash was paid.

Reference no: EM133099498

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