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Quick Study $9-7$

On October $1,$ Organic Farming purchases wind turbines for $$140,000.$ The wind turbines are expected to last six years, have a salvage value of $$20,000$ and be depreciated using the straight$-$line method.

Compute the depreciation expense for the last three months of the first year

Compute the depreciation expense for the second year.

Prepare the journal entry for each year end.

S$2022$ MeOran Fer ts