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Business, 17.04.2021 22:20 mimithurmond03

Machinery purchased for $66,000 by Metlock Co. in 2016 was originally estimated to have a life of 8 years with a salvage value of $4,400 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2021, it is determined that the total estimated life should be 10 years with a salvage value of $4,950 at the end of that time. Assume straight-line depreciation. Prepare the entry to record depreciation for 2021.

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Machinery purchased for $66,000 by Metlock Co. in 2016 was originally estimated to have a life of 8...
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