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(a) (6) Page One Company purchases equipment on December 31, 2020 for $150,000 and estimated a $15,000 salvage value at the end of the equipment's
(a) (6) Page One Company purchases equipment on December 31, 2020 for $150,000 and estimated a $15,000 salvage value at the end of the equipment's 5-year useful life. Complete the following depreciation table with all necessary descriptions: Double-Declining Balance Method $ Cost (b) (8) The company is using the straight-line method to calculate depreciation for equipment. On January 1, 2023 Page One Company sold the above equipment for $2,000. Required: Prepare the journal entries required to record the above sale on January 1, 2023. Date Account DR $ CR S
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