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Record the December adjusting entry

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Reference no: EM132469957

Problem - Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $35,904. The carpet is estimated to have a 17-year useful life and no residual value.

Required -

A. Prepare the journal entry necessary for recording the purchase of the new carpet.

B. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow Creek Company uses the straight-line method.

Reference no: EM132469957

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