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Help Save & Exit Minor Company installs a machine in its factory at the beginning of the year at a cost of $135,000. The machine's
Help Save & Exit Minor Company installs a machine in its factory at the beginning of the year at a cost of $135,000. The machine's useful life is estimated to be 5 years, or 300,000 units of product, with a $15,000 salvage value. During its first year, the machine produces 64,500 units of product. What journal entry would be needed to record the machines' first year depreciation under the units-of-production method? s 18 Multiple Choice Debit Depletion Expense $25,800, credit Accumulated Depletion $25,800 Debit Depletion Expense $29,025credit Accumulated Depletion $29,025. Debit Depreciation Expense $29.025 credit Accumulated Depreciation $29,025 Debit Depreciation Expense $25.800, credit Accumulated Depreciation $25.800. Debit Amortization Expense $24,000, credit Accumulated Amortization 524.000
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