Tarea Depreciaci$$n

Equipment was purchased for $$70,468.$ The equipment is estimated to

have a serviceable life of $8$ years and a residual value of $$2,500.$ Using

straight$-$line depreciation, answer the following:

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a$.$ What is the amount of depreciation expense per month and per year?

b$.$ Give the journal entry to record the depreciation expense for one year.