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Prepare the journal entry to record year two depreciation

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Reference no: EM133160261

Question - Computing and Recording Double-Declining-Balance Depreciation - Turquoise Associates bought a machine at the beginning of the year at a cost of $17,500. The estimated useful life was five years and the residual value was $2,000.

Required -

1. Complete a depreciation schedule for the double-declining-balance method.

2. Prepare the journal entry to record Year 2 depreciation.

Reference no: EM133160261

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