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widway Company purchased a heating system on January 2, 2008. for $425.000. The system had an estimated useful life of 15 years, with no residual

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widway Company purchased a heating system on January 2, 2008. for $425.000. The system had an estimated useful life of 15 years, with no residual value. On january 2, 2020, the company completed a complete renovation of the system at a cost of $43.000 cash and now expects the system to last 5 years beyond the original estimate. The company uses the straight line method of depreciation. What is the journal entry when the company completed the renovation and what the journal entry on Dec 31, 2020 year end to capture the annual depreciation opens. Use the following formate for your answer: DR-account name amount. CR-account rame amount. 5 points) For the toolbar, press ALT-F10 (PC) or ALTFN+F10 (Mac). Igs Paragraph Arial 14px ALI x 0 Q6 v

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