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Depreciation PQR Company purchases a new building for $800,000 on April 1, 2017. The building is fully financed by a mortgage. The building is expected
Depreciation PQR Company purchases a new building for $800,000 on April 1, 2017. The building is fully financed by a mortgage. The building is expected to be useful for 30 years, after which time it will have no residual value. The company wishes to use straight-line depreciation. Required: Using the journal entry template provided on the answer sheet, record the journal entry for the purchase of the building and for the year-end adjustment
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