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On January 1, 2025, Wildhorse Company replaced an engine in one of its delivery trucks. It was a material expenditure which is expected to extend
On January 1, 2025, Wildhorse Company replaced an engine in one of its delivery trucks. It was a material expenditure which is expected to extend the useful life by 8 years. The cost of the engine was $22000. The entry to record the purchase would include a debit to Accumulated Depreciation of $22000. debit to Equipment- Trucks of $22000. credit to Accumulated Depreciation of $22000. debit to Repairs and Maintenance expense of $22000
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