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The company purchased, in January 2023, a piece of equipment with a value of $45,000, and it has an estimated residual value of $3,000 after

The company purchased, in January 2023, a piece of equipment with a value of $45,000, and it has an estimated residual value of $3,000 after a useful life of five years. Please proceed with the journal entries for the following: A. Purchase of the equipment. B. Depreciation expense for the month of May 2023. C. Depreciation expense for the year 2024

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