Question: can you please answer this question On January 1 2017, R. Rhooms, a Manufacturer, purchased a drill machine for the sum of $4,000,000 paying by
can you please answer this question

On January 1 2017, R. Rhooms, a Manufacturer, purchased a drill machine for the sum of $4,000,000 paying by cheque. It has an estimated life of 5 years and a scrap value $500,000. Rhooms has chosen to use the straight-line method of depreciation. You have been asked to prepare the following for the rst three (31 years: (a) Machinery account (2 marks) (b) Journal entries to record depreciation (6 marks) (c) Provision for depreciation account (8 marks) (d) Balance sheet extract (9 marks)
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