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On January 1, Year 1, Naples purchased a computer system that cost $1.480,000. The estimated useful life of the computer is 3 years and salvage

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On January 1, Year 1, Naples purchased a computer system that cost $1.480,000. The estimated useful life of the computer is 3 years and salvage value is $40,000. Straight- line depreciation is to be used. On January 1, Year 2, Naples determined that the estimated useful life of the computer would be 4 years instead of 3 years. The estimated salvage value will only be $10,000 Prepare the journal entry to record depreciation expense for Year 1. Prepare the journal entry to record depreciation expense for Year 2. TTT Arial . 3112p) T.E.E.B.225 Words 0 QUESTIONS

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