On April 3, 2020, David's Chocolates purchased a machine for $72,200. It was assumed that...
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On April 3, 2020, David's Chocolates purchased a machine for $72,200. It was assumed that the machine would have a five-year life and a $15,300 trade-in value. Early in January 2023, it was determined that the machine would have a seven-year useful life and the trade-In value would be $8,100. David's Chocolates uses the straight-line method to the nearest month for calculating depreciation. Required: Record depreciation at December 31, 2023, David's Chocolates' year-end. (Do not round Intermediate calculations. Round the final answers to the nearest whole dollar.) View transaction list Journal entry worksheet Record depreciation for the year 2023. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2023 Record entry Clear entry View general journal
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