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a.Equipment cost $27,000 and is expected to be useful for 10 years, at which time it will have no residual value. Calculate and record amortization
a.Equipment cost $27,000 and is expected to be useful for 10 years, at which time it will have no residual value. Calculate and record amortization for the current year.b.Each Monday, Galestown pays employees for the previous week's work. The amount of weekly payroll is $2,100 for a seven-day workweek (Monday to Sunday). This year December 31 falls on a Thursday. c.The beginning balance of Supplies was $2,400. During the year, Galestown purchased supplies for $3,300, and at December 31, the supplies on hand totalled $1,600. d. Galestown prepaid one year of insurance coverage on October 1 of the current year
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