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A business purchased a machine for $ 4 8 , 0 0 0 . The machine has an economic life of eight years. After using

A business purchased a machine for $48,000. The machine has an economic
life of eight years. After using for six years, the machine was sold for
$11,400. Please prepare depreciation schdule using straight line method of
depreciation. Also prepare the closing entry upon sale of the machine.

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