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Required Information [The following Information applies to the questions displayed below.] Wardell Company purchased a mini computer on January 1, 2019, at a cost of
Required Information [The following Information applies to the questions displayed below.] Wardell Company purchased a mini computer on January 1, 2019, at a cost of $40,850. The computer has been depreciated using the straight-line method over an estimated five-year useful life with an estimated residual value of $4,100. On January 1, 2021, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $990. 2. Prepare the appropriate adjusting entry for depreciation in 2021 to reflect the revised estimate, assuming that the company uses the sum-of-the-years-digits method instead of the straight-line method. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account field. Do not round Intermediate calculations and round your final answers to nearest whole dollar.) View transaction list Journal entry worksheet 1 > Record the depreciation. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal
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