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You make adjusting journal entries for the month of January as needed. (Start with Journal no. Jan22.1.) You carefully consider the following: Math Revealed! used
You make adjusting journal entries for the month of January as needed. (Start with Journal no. Jan22.1.) You carefully consider the following: Math Revealed! used the straight-line method to determine depreciation expense for all office equipment Monthly depreciation expense for the equipment purchased prior to 12/31 is $92.50. (Computer $75; Printer S10; Calculators $7.50) Math Revealed! purchased S726 of furniture on 1/3. You expect the furniture to last 4 years, with a S150 salvage value. You take a full month depreciation on the furniture. Two computers ($1,260) and three calculators ($441) were also purchased on 1/3. You expect the computers to have a 3-year life (no salvage value) and the calculators to have a 3-year life (563 salvage value). You take a full month depreciation on the equipment. On 1/29, shelving was installed. The cost of the shelving was $820. You expect the shelving to last for the term of the lease (24 months). You estimate the salvage value at $100 at the end of the 2 years. You started using the shelving on February 1
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