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10. Saginaw Company purchased a computer that costs $1,000. It had an estimated useful life of 5 years and no residual (salvage) value. The computer
10. Saginaw Company purchased a computer that costs $1,000. It had an estimated useful life of 5 years and no residual (salvage) value. The computer was depreciated by the straight-line method and was sold at the end of the fourth year (i.e., after 4 years) of use for $150 cash. The company should make the following journal entry:
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