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There are following information related a truck Purchase date Jan 1, 2017 Purchase price $245,600 Estimated useful life five years Residual value $25,600 Calculate depreciation

There are following information related a truck
Purchase date Jan 1, 2017 Purchase price $245,600
Estimated useful life five years Residual value $25,600
Calculate depreciation expense in Dec 31, 2017 in straight line method and provide
journal entry

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