Question: Harris Corp. use the composite method for its equipment. A Compute the composite depreciation rate and the composite life for the equipment. USEFUL COST SALVAGE

Harris Corp. use the composite method for its equipment.
A Compute the composite depreciation rate and the composite life for the equipment.
USEFUL
COST SALVAGE LIFE -YRS
Fork-lift trucks 24,500 500 8
Delivery vans 43,000 2,000 5
B Prepare the journal entry that results when Harris Corp. sells a fork-lift truck for $ 600
Date of journal entry is 12-31

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