On July 1, 2020, Delta Company purchased and placed in service a machine with a...
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Accounting
On July 1, 2020, Delta Company purchased and placed in service a machine with a cost of $460,000. Delta estimated the service life to be 6 years or 60,000 units of output, with an estimated residual value of $80,000. During 2020, 15,000 units were produced. Prepare the necessary December 31, 2020, adjusting journal entry to record depreciation for 2020 assuming Delta uses the double-declining-balance method to the nearest whole month. Round all calculations to 4 decimals.
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