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I will give thumbs up for correct answer! Required information [The following information applies to the questions displayed below. Wardell Company purchased a mainframe on
I will give thumbs up for correct answer!
Required information [The following information applies to the questions displayed below. Wardell Company purchased a mainframe on January 1, 2019, at a cost of $54,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $6,000. On January 1, 2021, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $3,600. 2. Prepare the year-end journal entry for depreciation in 2021. Assume that the company uses the sum-of-the-years' - digits method instead of the straight-line method. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) View transaction list Journal entry worksheet 1 Record depreciation expense for 2021. Note: Enter debits before credits. General Journal Debit Credit Event 1 Record entry View general journal Clear entryStep by Step Solution
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