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Sneed Inc. buys equipment on October 1,2023 for $600,000 cash. They estimate the equipment will have a salvage value of $100,000 and a useful life

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Sneed Inc. buys equipment on October 1,2023 for $600,000 cash. They estimate the equipment will have a salvage value of $100,000 and a useful life of 10 years. a. Write the journal entry to record depreciation for 2023

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