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Make journal entries to record plant asset disposal

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Question - Pinewood Corporation purchased a piece of equipment for $70,000. It estimated an 8-year life and a $2,000 salvage value. At the end of year four (before the depreciation adjustment), it estimated the new total life to be 10 years and the new salvage value to be $6,000. Compute the revised depreciation.

Make journal entries to record plant asset disposal.

Reference no: EM131735791

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