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Purple Merchandising Company purchased a vehicle for TL 75.000 on January 1, 2020. Expected useful life of the vehicle is 10 years and estimated
Purple Merchandising Company purchased a vehicle for TL 75.000 on January 1, 2020. Expected useful life of the vehicle is 10 years and estimated residual value is TL 10.000. Purple company is using Straight Line Depreciation Method for this vehicle. a) What is this vehicle's net book value at the end of 4 years? vehicle's net book value at the end of 4 years is b) Journalize depreciation expense of this vehicle at the end of 7th Debit account is Credit account is worth of worth of year. c) Journalize sale transaction when this vehicle is sold for 15.000 TL at the end of 8 Debit account is worth of Debit account is worth of Debit account is worth of Credit account is worth of years.
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