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At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $250,000....

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Accounting

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At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $250,000. It is expected to have a five-year life and a $40,000 salvage value. b. Record the purchase of the computer system and the depreciation expense for the first year under straight-line and doubledeclining-balance methods in a horizontal statements model. (In the Statement of Cash Flows column, use the initials OA to designate operating octivity, IA for investing activity, and FA for financing activity. Leave blank to indicate that on element is not offected by the event. Enter any decreases to account balonces and cash outflows with a minus sign.)

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