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Candy Craze purchased and installed a machine on January 1, 2020, at a total cost of $308,700. Straight-line depreciation was taken each year for four
Candy Craze purchased and installed a machine on January 1, 2020, at a total cost of $308,700. Straight-line depreciation was taken each year for four years, based on the assumption of a seven-year life and no residual value. The machine was disposed of on July 1, 2024, during its fifth year of service. Candy Craze's year-end is December 31. Required: Present the entries to record the partial year's depreciation on July 1, 2024. View transaction list Journal entry worksheet Record partial year depreciation in year of disposal. Notar Enter debts before credits General Journal Debit Credit July 01, 2024
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