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Oriole Inc. began operations on October 1, 2025. The company acquired a building on that date for $418000. The useful life of the building
Oriole Inc. began operations on October 1, 2025. The company acquired a building on that date for $418000. The useful life of the building is 25 years and the salvage value is $44700. This is Oriole's only building. If the company uses straight-line depreciations, the adjusting journal entry to record depreciation on the building at December 31, 2025 is debit Accumulated Depreciation - Building and credit Depreciation Expense, $14932. debit Depreciation Expense and credit Accumulated Depreciation - Building, $14932. O debit Depreciation Expense and credit Accumulated Depreciation - Building, $3733. debit Building and credit Cash, $418000. Save for Later Attempts: 0 of 1 used Submit Answer
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