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. A business owner is purchasing a new car for $20,000. She plans to drive this car 10,000 km a year (but realizes annual mileage

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A business owner is purchasing a new car for $20,000. She plans to drive this car 10,000 km a year (but realizes annual mileage may vary significantly based on economic factors). The car is expected to be used for business for 10 years, at which point it can be sold for $2,000. Advise the business owner on the best depreciation strategy, with full details to support your recommendation. Also, discuss the accounts the business owner will debit or credit when making her annual depreciation journal entry. A business owner is purchasing a new car for $20,000. She plans to drive this car 10,000 km a year (but realizes annual mileage may vary significantly based on economic factors). The car is expected to be used for business for 10 years, at which point it can be sold for $2,000. Advise the business owner on the best depreciation strategy, with full details to support your recommendation. Also, discuss the accounts the business owner will debit or credit when making her annual depreciation journal entry

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