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Entity B bought equipment for $360,000 on January 1, 2022. It estimated the useful life...

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Accounting

Entity B bought equipment for $360,000 on January 1, 2022. It estimated the useful life to be 4 years with no salvage value, and the straight-line method of depreciation was used. On January 1, 2023, Entity B decides that it will use the equipment for a total of 6 years. Compute the revised depreciation expense for 2023 and make the entry to record depreciation expense. Show work.

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