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ACC 211 bought furniture for 6,000. The furniture has a useful life of 5 years...

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Accounting

ACC 211 bought furniture for 6,000. The furniture has a useful life of 5 years with salvage value of 500. The double declining balance was used as the method of depreciation

Required

a) Prepare a depreciation schedule for the 5 years

b) Record in general journal format the adjusting entry for the first year

c) Record in general journal format the acquisition of the furniture

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