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Masterson Supply purchased a small storage building for $20,000 to be used over a five-year period. The building is depreciated on a straight-line basis and

Masterson Supply purchased a small storage building for $20,000 to be used over a five-year period. The building is depreciated on a straight-line basis and has no residual value. Early in the fourth year, the storage building burned down.

Record the retirement of the remaining book value of the storage building.

Journal entry worksheet Record the retirement of the remaining book value of the storage building. Note: Enter debits before credits

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