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can someone please help? Monty Company purchased a computer system for $72,200 on January 1,2024 . It was depreciated based on a 7 year life
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Monty Company purchased a computer system for $72,200 on January 1,2024 . It was depreciated based on a 7 year life and an $19,000 salvage value. On January 1, 2026, Monty revised these estimates to a total useful life of 4 years and a salvage value of $10,100. Prepare Monty's entry to record 2026 depreciation expense. Monty uses straight-line depreciation. (Credit account tities ore automotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. (ist debit entry before credit entry) Step by Step Solution
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