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Randal purchased a framing machine for $50 on January 1, 2021. The machine is expected to have a five-year life, with a residual value of

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Randal purchased a framing machine for $50 on January 1, 2021. The machine is expected to have a five-year life, with a residual value of $5 at the end of four years. Required: What is the depreciable base? What is the denominator in the ratio? Write the journal entry to report depreciation expense for 2021. Account Debit Credit

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