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Company DD purchases a building for $500,000 on January 1, 2021. The building has an estimated useful life of 25 years and a residual value
Company DD purchases a building for $500,000 on January 1, 2021. The building has an estimated useful life of 25 years and a residual value of $50,000. The company uses the double-declining balance method of depreciation.
Prepare the journal entry to record depreciation expense for the year 2021.
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