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On March 8th,2018, A construction company buys a bulldozer for $200,000 with a useful life of 4 years and a salvage value $5,000. The company
On March 8th,2018, A construction company buys a bulldozer for $200,000 with a useful life of 4 years and a salvage value $5,000. The company uses the straight-line method to depreciate the furniture. a. Journalize the purchase of the furniture. Post to the entries to the ledger. b. Journalize the depreciation for each of the 3 years. Post the entries to the ledger. c. Selling an asset for less than its book value (loss is recorded). On March 2nd,2018, the asset is sold for $15,600. Journalize this disposal of the asset. d. Selling an asset for more than its book value (gain is recorded). On March 2nd,2018, the asset is sold for $60,000
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