Presented here are selected transactions for Blossom Limited for 2024. Blossom uses straight-line depreciation and records adjusting
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Presented here are selected transactions for Blossom Limited for 2024. Blossom uses straight-line depreciation and records adjusting entries annually. Jan. Sept. Dec. (a) 1 1 30 Sold a delivery truck for $18,360 cash. The truck cost $67,930 when it was purchased on January 1, 2021, and was depreciated based on a four-year useful life with a $6,490 residual value. Sold computers that were purchased on January 1, 2022. They cost $10,161 and had a useful life of three years with no residual value. The computers were sold for $490 cash. Retired equipment that was purchased on January 1, 2015. The equipment cost $135,100 and had a useful life of 10 years with no residual value. No proceeds were received.
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