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Restaurant La Jolie Vache purchased equipment on January 1, 2018 for $70,000. The asset is expected to last for four years, at which time the
Restaurant La Jolie Vache purchased equipment on January 1, 2018 for $70,000. The asset is expected to last for four years, at which time the estimated residual value will be $12,000. Required a) Prepare a table showing the amount of depreciation expense each year, accumulated depreciation to date and net book value. Restaurant La Jolie Vache uses straight-line depreciation. Do not enter dollar signs or commas in the input boxes. b) The asset was sold for $17,000 on January 1, 2022. Prepare the journal entry to record the sale. Enter all debit accounts in alphabetical order. c) Using the same purchase information at the beginning of the question, complete the table assuming that Restaurant La Jolie Vache used double-declining-balance depreciation. d) Using the same purchase information and residual value at the beginning of the question, assume that the company uses the units-o production method. The asset can produce one million units. Prepare the depreciation table
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