Machinery purchased for $73,800 by Blossom Co. in 2013 was originally estimated to have a...
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Accounting
Machinery purchased for $73,800 by Blossom Co. in 2013 was originally estimated to have a life of 8 years with a salvage value of $4,920 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2018, it is determined that the total estimated life should be 10 years with a salvage value of $5,535 at the end of that time. Assume straight-line depreciation.
Prepare the entry to record depreciation for 2018
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