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Hot Dog and more over Georgia paid $120,000 for a concession stand. Hot Dog and more started out depreciating the building using the straight-line method
Hot Dog and more over Georgia paid $120,000 for a concession stand. Hot Dog and more started out depreciating the building using the straight-line method over 20 years with zero residual value. After using the concession stand for 4 years, Hot Dog and more determines that the building will remain useful for only 6 more years. Record Hot Dog and more' depreciation on the concession stand for year 5 by the straight-line method. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit
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