a. Company has purchased an equipment and the details are provided below:
Equipment cost = $23,000
Residual Value = $3000
Useful life
= 5 years
Purchase date = April 30, 2021
Required
1. What is the annual depreciation?
2. Post the entries in a journal for depreciation at Dec 31 2022 and Dec 31 2023.
3. Show your transactions on T-accounts
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