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On December 3 1 , 2 0 2 5 , Sheffield Company acquired a computer from Plato Corporation by issuing a $ 5 7 3
On December Sheffield Company acquired a computer from Plato Corporation by issuing a $ zerointerestbearing note, payable in full on December Sheffield Company's credit rating permits it to borrow funds from its several lines of credit at The computer is expected to have a year life and a $ salvage value.
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Prepare any necessary adjusting entries relative to depreciation use straightline and amortization use effectiveinterest method on December Round answers to decimal places, eg If no entry is required, select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.
Date Account Titles and Explanation
tableDecember
To record the depreciation.
SchehtlecuiliotreDisumit Amartiontion
Debit linterest Expense Credit Discount
Canning kalue
Date on Miotas Payable afliote
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