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Presented below is information related to equipment owned by Whispering SpA at December 31, 2022. Cost 11,700,000 Accumulated depreciation to date 1,300,000 Value-in-use 9,100,000 Fair
Presented below is information related to equipment owned by Whispering SpA at December 31, 2022. Cost 11,700,000 Accumulated depreciation to date 1,300,000 Value-in-use 9,100,000 Fair value less cost of disposal 5,720,000 Whispering intends to dispose of the equipment in the coming year. As of December 31, 2022, the equipment has a remaining useful life of 4 years. (b) Prepare the journal entry (if any) to record depreciation expense for 2023. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Depreciation Expense Accumulated Depreciation-Equipment e Textbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit
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