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i need answer Nash Enterprises Ltd. purchased machinery on September 1, 2020. The machinery cost $331,700, and was estimited to hine a 10year useful life

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Nash Enterprises Ltd. purchased machinery on September 1, 2020. The machinery cost $331,700, and was estimited to hine a 10year useful life and a residual value of \$31,700. Straight-line depreciation was recorded each year-end (December 31 ) to the end of December 31, 2024. On January 1, 2025, Nash re-evaluated the machinery. It was now believed that the equipment could be resold for $12,100 on December 31,2027 . Prepare the journal entry to record depreciation for 2025. (Credit occount titles are automatically indented when the amount s enteres Do not indent manually, If no entry Is required, select "No Entry" for the account titles and enter Of for the amounts List debit entry before credit entrye)

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