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only do the journal entries for units of production Pharoah Productions Corp. purchased equipment on March 1, 2024, for $55,800. The company estimated the equipment
only do the journal entries for units of production
Pharoah Productions Corp. purchased equipment on March 1, 2024, for \$55,800. The company estimated the equipment would have a useful life of three years and produce 10,000 units, with a residual value of $9,000. During 2024 , the equipment produced 4,900 units. On November 30,2025 , the equipment was sold for $18,000 and had produced 6,300 units that year. (a) Record all the necessary journal entries for the years ended December 31, 2024 and 2025, using the following depreciation methods: (List all debit entries befors cradit entries. Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Round the depreciation rate in the double-diminishing-balonce method to the nearest whole percent, eg 43% and round depreciation per unit in the units-of-production depreciation method to 2 decimal places, eg. 2.25 and final answers to 0 decimal places, es. 5,275.) (3) Units-of-production Step by Step Solution
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