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1. Buenos Diaz is a restaurant that specializes in Central American breakfast cuisine. On 1/1/2018, Buenos uses cash to purchase a piece of equipment for
1. Buenos Diaz is a restaurant that specializes in Central American breakfast cuisine. On 1/1/2018, Buenos uses cash to purchase a piece of equipment for $45,000. The equipment comes from Honduras so it cost an additional $5,000 to ship to Dallas. Buenos estimates the equipment will be worth $10,000 at the end of its 5 year life. Use Straight-Line method. a. Record the JE for the purchase of the equipment on 1/1/18: b. Record the AJE on 12/31/18 to recognize depreciation
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