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what will be journal entries for this ? Problem 24 Certossi Service Lid. uses straight-line depreciation The company's fiscal year end is December 31. The
what will be journal entries for this ?
Problem 24 Certossi Service Lid. uses straight-line depreciation The company's fiscal year end is December 31. The following transactions and events occurred during their first three years of operatons 2014 Jul 1 Purchased equipment for $32 000 cash, with shipping costs of $2.000 Nov 3incurred ordinary repairs on the computer of $360. 31 Recorded 2014 depreciation on the basis of a four-year life and estimated residual value of $200 2015 Dec 31 Recorded 2015 depreciation 2016 Jan 1 Paid $1 500 for a major upgrade of the equipment This expenditures expected to increase the operating efficiency and capacity of the equipment Instructions Record the transactions aboveStep by Step Solution
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