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Healthy Snacks over Georgia paid $96,000 for a concession stand Healthy Snacks started out depreciating the building using the straight-line method over 16 years with
Healthy Snacks over Georgia paid $96,000 for a concession stand Healthy Snacks started out depreciating the building using the straight-line method over 16 years with zero residual value After using the concession stand for 5 years, Healthy Snacks determines that the building will remain useful for only 5 more years. Record Healthy Snacks' depreciation on the concession stand for year 6 by the straight-line method (Record debits first, then credits. Explanations are not required) Journal Entry Date Accounts Debit Credit Accumulated Depreciation-Concession Stand Concession Stand Depreciation Expense-Concession Stand Repair expense
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