Candy Craze purchased and installed a machine on January 1, 2023, at a total cost...
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Accounting
Candy Craze purchased and installed a machine on January 1, 2023, at a total cost of $297,500. Straight-line depreciation was taken each year for four years, based on the assumption of a seven-year life and no residual value. The machine was disposed of on July 1, 2027, during its fifth year of service. Candy Crazes year-end is December 31. Required: Present the entries to record the partial years depreciation on July 1, 2027.
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