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I need help to create a Journal entry of the following equipment please: Thank You! Sarah is specifically wondering what the correct accounting treatment for
I need help to create a Journal entry of the following equipment please:
Thank You!
Sarah is specifically wondering what the correct accounting treatment for the high-end technology is. A year ago, House Tech purchased two virtual reality goggles for $700 each, a high-definition camera for $600, and two MacBooks for $1,750 each (everything on account). Although the equipment is expected to last five years with no salvage value, Sarah plans to sell everything after two years of use for half its original cost (cash sale). This will allow her to keep using the best technology for her work and sales pitches. She is looking for guidance on all journal entries on this equipment, including purchase, payment, annual usage, and eventual saleStep by Step Solution
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