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On January 1, 2017 Global Manufacturing purchased a machine for $940.000 The company expected the...

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Accounting

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On January 1, 2017 Global Manufacturing purchased a machine for $940.000 The company expected the machine to remain useful for ten years and to have a resid value of $90 000. Global Manufacturing uses the straight-line method to depreciate its machinery Global Manufacturing used the machine for four years and sold it on January 1, 2021, for $300.000 Read the restments 1. Compute accumulated depreciation on the machine at January 1, 2021 (same as December 31, 2020) The accumulated depreciation is S 2. Record the sale of the machine on January 1 2021. (Record debits first, then credits Exclude explanations from any journal entries) Journal Entry Accounts Date Debit Credit

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