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Duncan Manufacturing Company acquired equipment on January 1, 2023, for $576.000. Estimated useful life of the equipment was seven years and the estimated residual value
Duncan Manufacturing Company acquired equipment on January 1, 2023, for $576.000. Estimated useful life of the equipment was seven years and the estimated residual value was $20,000. On January 1, 2026, after using the equipment for three years, the total estimated useful life has been revised to nine total years. Residual value remains unchanged. The company uses the straight-line method of depreciation. What is the journal entry for the depreciation expense for 20267 (Round any Intermediate calculations to two decimal places and your final answer to the nearest dollar) O A Depreciation Expense-Equipment Accumulated Depreciation Equipment 35,302 35,302 OB. Depreciation Expense Equipment Accumulated Depreciation Equipment 52,952 52.952 empt OC. Depreciation Expense-Equipment Accumulated Depreciation Equipment 56,286 tot 56.286 tonio OD Depreciation Expense Equipment Accumulated Depreciation Equipment 37,524 O of 37,524 Atte 00 Click to select your answer. 00
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