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What journal entry would advantage record on december

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Reference no: EM132490937

On January 1, 2017 Advantage Co. purchased a new machine for $4,500. The machine has a useful life of 5 years, and a residual (salvage) value of $500. It is estimated that the machine will produce 5,000 units over its lifetime. Advantage closes its books once a year, on 12/31.

Question (a) If Advantage uses the straight-line method of depreciation, what journal entry would Advantage record on December 31, 2019 in relation to depreciation of this machine?

Reference no: EM132490937

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