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DQ Depreciation (5 marks) On January 1, 2017, Jamaica Bakery Ltd. bought Machinery for $6,250,000. The company estimates that the useful life of the Machinery

DQ Depreciation (5 marks) On January 1, 2017, Jamaica Bakery Ltd. bought Machinery for $6,250,000. The company estimates that the useful life of the Machinery will be 4 years and will have a residual value of $850,000. The machinery is to be depreciated using the straight line method. Required:

(a) Prepare the Machinery A/c

(b) The Provision for Depreciation A/c up to December 31, 2019.

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