Question: Hi please answer this one. Exercise 3-5 Preparing odjusting entries (annuol)-depreciotion to Meon Beans, a locat collee shep, has the following assets on Jarnary 1,2023
Exercise 3-5 Preparing odjusting entries (annuol)-depreciotion to Meon Beans, a locat collee shep, has the following assets on Jarnary 1,2023 . Mean Beans prepares anrual financial statements and a. On Janary 1.2023, purchate equipment costing $23.900 with an estimated life of five years Mean Blears wit scap the equpaiert after five years for 50 b. On july t 2023, parchase furniture ftables and chairs cosming $17,000 with an escriated life of ten years. Mean Eeans eitamates that it car sell the furniture for $1,500 after ten yeas that it cail sell the car for 588050 atter eightyesers Peoulited: 1.a. For eacti tatnactor, calcilate the cursent year's oninual depreciation expense, 1-b. For each transaction, record the adusting entry dri Decemberal, 2027
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