Cranium Corp. buys equipment on October 1, 2023 for $570,000 cash. They estimate the equipment will have
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Question:
a. Write the journal entry to record depreciation for 2023. 12/31/23
b. Record the journal entry to record depreciation expense for the second year. 12/31/24
c. What is the book value of this equipment on the December 31, 2024 Balance Sheet?
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