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BC Company purchased a truck on January 1,2015 , at a cash cost of $15, 000 . The estimated residual value was $500 and the
BC Company purchased a truck on January 1,2015 , at a cash cost of $15, 000 . The estimated residual value was $500 and the estimated useful life was 5 years. The company uses stritetitie depreciation. On December 31, 2018, the company sold the truck for 53.000 cash A. Prepare the journal entry to record depreciation expense for 2015. B. Prepare the journal entry to record the sale of the machine on December 31,2018. C. What was the book value of the machine at the end of 2017 ? D. If the machine had increased in fair market value in 2016 , would the comparin be abte to increase the value of the asset on their balance sheet in 2016 ? Just answerves or no
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