Current Attempt in Progress Pharoah Lure Co. purchased a machine on October 1,2022 for...
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Accounting
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Pharoah Lure Co purchased a machine on October for $ It has a $ residual value and a year useful life. On July the machine sold for $ The company uses the doubledecliningbalance method of depreciation. The company fiscal year end is December
Prepare the journal entries for through Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record joumal entries in the order presented in the problem.
Date
Account Titles and Explanation
Debit
Credit
Machinery
Cash
Depreciation Expense
Accumulated Depreciation Equipment
Up to july first which has four slots depreciation expense in machinery for
Answer & Explanation
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