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Tarea Depreciacin Equipment was purchased for $70,468. The equipment is...

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Accounting

Tarea Depreciacin
Equipment was purchased for $70,468. The equipment is estimated to
have a serviceable life of 8 years and a residual value of $2,500. Using
straight-line depreciation, answer the following:
Zoom level. Click to open the Zoom dialog box.
a. What is the amount of depreciation expense per month and per year?
b. Give the journal entry to record the depreciation expense for one year.
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