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Purchase of new storage facility on 12/1/2020: $1,910,000 At the time of purchase, the estimated useful life is 10 years with a salvage value of
Purchase of new storage facility on 12/1/2020: $1,910,000
At the time of purchase, the estimated useful life is 10 years with a salvage value of $80,200.
Using the sum-of-the-years (SYD) method for buildings, what would be the journal entries for this scenario?
Should involve accumulated depreciation and depreciation expense (and possibly a tax entry?).
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