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On April 1, Conner Inc. buys a Vehicle for $57,000 cash. Connor estimates the vehicle will be used to generate revenues in the business for
On April 1, Conner Inc. buys a Vehicle for $57,000 cash. Connor estimates the vehicle will be used to generate revenues in the business for 5 years and that they can sell the vehicle at the end of 5 years for $3,000. What is the related adjusting journal entry Conner records on April 30? DR: Vehicle [Select] CR: Cash [ Select]
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