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On January 1, Year 1, Fuzzy Side Up, a carpet manufacturer, purchased a $400,000 machine with an estimated useful life of 5 years or 500,000

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On January 1, Year 1, Fuzzy Side Up, a carpet manufacturer, purchased a $400,000 machine with an estimated useful life of 5 years or 500,000 carpets and a $50,000 salvage value. The machine actually produced 120,000 carpets in Year 1 and 110,000 carpets in Year 2. Record the depreciation adjusting entry for Year 1 using the activity method

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