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Quetion :
Barton ENTERPRISES PURCHASE d Equipment on January 1, 2014, at a Cost of $350,000. Barton USES the Straight- line depreciation method , a 5-year Estimated useful life , and now residual value . At the End of 2014, independent appraisers determined that the assets have a fair value Of $3 20, 000.
(a) Prepare the journal entry to record 2017 depreciation using the straight-line method.
(b) Prepare the journal entry to record the revaluation of the equipment.
(c) Prepare the journal entry to record 2018 depreciation, assuming no additional revaluation.
Create the journal entry when the service is provided.
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