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Explain depreciation, computation, recording of straight-line depreciation for fiscal years 2021 and 2022 using the following fact pattern, He purchased a truck on March 1,
Explain depreciation, computation, recording of straight-line depreciation for fiscal years 2021 and 2022 using the following fact pattern, He purchased a truck on March 1, 2021 for $100,000. The truck has an estimated useful life of 10 years at which time it is expected to have a $5,000 salvage value. He uses the calendar year for financial reporting.
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