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6. - Company F purchased equipment for $50,000 with a salvage value of $5,000 after 5 years. - Calculate the annual depreciation



6.  
   - Company F purchased equipment for $50,000 with a salvage value of $5,000 after 5 years.
   - Calculate the annual depreciation expense using the straight-line method.
   - Provide the journal entry to record depreciation for the first year.

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