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Business, 05.05.2020 02:58 Jrstx333

Williams Company acquired machinery on January 1, Year 1, at a cost of $130,000. The estimated useful life of the machinery was 5 years and the estimated residual value was $10,000. Williams uses the double-declining-balance method of depreciation. On December 31, Year 5, Williams sold the equipment for $12,000. (a) Compute the total depreciation at the end of its useful life (year 5), (b) record the journal entry for the sale of the machinery.

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Williams Company acquired machinery on January 1, Year 1, at a cost of $130,000. The estimated usefu...
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