1. 2. 3. On January 1, 2015, Blue Sky Manufacturing purchased...
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On January 1, 2015, Blue Sky Manufacturing purchased a machine for $960,000. The company expects the machine to remain useful for five years and to have a residual value of $100,000. Blue Sky Manufacturing uses the straight-line method to depreciate its machinery. Blue Sky Manufacturing used the machine for three years and sold it on January 1 2018, for $275,000. Requirements 1. Compute accumulated depreciation on the machine at January 1, 2018 (same as December 31, 2017). 2. Record the sale of the machine on January 1, 2018. 1. Compute accumulated depreciation on the machine at January 1, 2018 (same as December 31, 2017) The accumulated depreciation is $
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