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how can I get the depreciation expense for 2020 ? Irons Delivery Inc. purchased a new delivery truck for $45,000 on January 1, 2019. The
how can I get the depreciation expense for 2020 ?
Irons Delivery Inc. purchased a new delivery truck for $45,000 on January 1, 2019. The truck is expected to have a $3,000 residual value at the end of its 5-year useful life. Irons uses the straight-line method of depreciation Required: Prepare the journal entry to record depreciation expense for 2019 and 2020. 2019 Dec. 31 Depreciation Expense 8,400 Accumulated Depreclation (Record straight-line depreciation expense) 8,400 2020 Dec. 31 Depreciation Expense v 16,800 X Accumulated Depreciation (Record straight-line depreciation expense) 16,800 XStep by Step Solution
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