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At Its December 31, 2019, year-end, Athletic Apparel had a warehouse with an adjusted book value of $292,500 and an estimated remaining useful life
At Its December 31, 2019, year-end, Athletic Apparel had a warehouse with an adjusted book value of $292,500 and an estimated remaining useful life of 15 years and residual value of $90,000. Because of pick-up and delivery issues at the warehouse, a contractor was hired to construct a new door into the east wall during the week of January 5, 2020, for $25,500 on account. The estimated useful life of the door is 15 years with an estimated residual value of $7,500. Athletic uses the straight-line method to depreciate assets. Required: 1. Record the installation of the new door. View transaction list Journal entry worksheet 1 Record addition of door on East wall of warehouse.
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