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Speedy Delivery Service purchased a van for $60,000 cash on April 1, 2021. The van had an estimated life of 5 years and a salvage
Speedy Delivery Service purchased a van for $60,000 cash on April 1, 2021. The van had an estimated life of 5 years and a salvage value of $10,000. Speedy has a December 31 year-end and uses straight-line depreciation. Record the necessary journal entries for (1) the acquisition of the van on April 1, 2021; (2) depreciation for 2021; and (3) depreciation for 2022. Edit Format Table 12pt Paragraph BIUA
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