Prepare the entry or entries related to the machine

Reference no: EM13127125

Quigley co. bought a machine in January 1, 2009 for $875,000. It had a $75,000 estimated residual value and ten year life. The repairs and maintance expense account was incorrectly debited on the purchase date. Quigley uses straight-line depreciation. This was discovered in 2011.

Prepare the entry or entries related to the machine for 2011.
Please explain how and why you git the answer as well.

Reference no: EM13127125

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