Question: On 1 1 ? 2 0 2 4 , Abdi Company purchased a depreciable asset for $ 4 , 2 0 0 , 0 0

On 11?2024, Abdi Company purchased a depreciable asset for $4,200,000. The current estimated salvage value is $500,000, and the estimated useful life is 20 years. The straight-line method will be used for depreciation.
Required:
a. Calculate the depreciation base of this asset?
b. Prepare the journal entry to record the purchase (assume cash was used to purchase the asset).
c. Prepare the 1231?2024 iournal entry to record depreciation expense.
USE EXCEL PLEASE
On 1 1 ? 2 0 2 4 , Abdi Company purchased a

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