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Exercise 9-20 Revised depreciationbetterment LO2, 4 At its December 31, 2022, year-end, Athletic Apparel had a warehouse with an adjusted book value of $306,500 and
Exercise 9-20 Revised depreciationbetterment LO2, 4 At its December 31, 2022, year-end, Athletic Apparel had a warehouse with an adjusted book value of $306,500 and an estimated remaining useful life of 15 years and residual value of $104,000. Because of pick-up and delivery issues at the warehouse, a contractor was hired to construct a new door into the east wall during the week of January 5, 2023, for $39,500 on account. The estimated useful life of the door is 15 years with an estimated residual value of $8,900. Athletic uses the straight-line method to depreciate assets. Required: 1. Record the installation of the new door. 2. Record total depreciation on the warehouse at December 31
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