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The following information relates to DXC Technology Ltd (a) DXC Technology Ltd has purchased equipment for its call centre. After installation, DXC Technology Ltd

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The following information relates to DXC Technology Ltd (a) DXC Technology Ltd has purchased equipment for its call centre. After installation, DXC Technology Ltd began using the equipment on 1 July 2020. DXC Technology Ltd paid cash for the equipment of $135,000. Installation and freight paid in cash was $25,000. (b) On 1 July 2020 DXC Technology Ltd negotiated annual maintenance for the equipment paying cash of $9,000 (recorded using the expense approach). (c) The equipment is expected to be used constantly. The equipment will be depreciated using the straight-line method over 8 years. The estimated residual was $8,000. (d) On 1 September 2020, the equipment broke down and DXC Technology Ltd spent $15,000 to get it operating again. (e) and (f) On 1 July 2021, DXC Technology Ltd decided to upgrade the equipment hardware paying cash of $45,000. It was expected that the equipment would have a remaining useful life of 10 years. The estimated residual was revised to $15,000 Required: Prepare all the following six general journal entries for the years ended 30 June 2021 and 30 June 2022. Justify each of your entries.

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