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Yazzie Incorporated bought a machine at the beginning of the year at a cost of $26,000. The estimated useful life was five years and the

Yazzie Incorporated bought a machine at the beginning of the year at a cost of $26,000. The estimated useful life was five years and the residual value was $3,000. Required: 1. Complete a depreciation schedule for the straight-line method. 2. Prepare the journal entry to record Year 2 depreciation. Required: 1. Complete a depreciation schedule for the straight-line method. 2. Prepare the journal entry to record Year 2 depreciation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete a depreciation schedule for the straight-line method. Income Statement Balance Sheet Year Depreciation Expense Accumulated Cost Book Value Depreciation At acquisition 1 2 3 4 5 Journal entry worksheet < A Record the adjusting entry for depreciation expense for Year 2. Note: Enter debits before credits. Transaction B General Journal Debit Credit Record entry Clear entry View general journal

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