Doug Smith Industries purchased warehouses for $132 million (no residual value) at the beginning of...
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Accounting
Doug Smith Industries purchased warehouses for $132 million (no residual value) at the beginning of 2018. The warehouses were being depreciated over a 10-year life using the sum-of-the- years'-digits method. At the beginning of 2021, management decided to change to straight-line. Ignoring taxes, the 2021 adjusting entry will include a debit to depreciation expense of: (Round your answer to 2 decimal places.): Multiple Choice $13.20 million $9.60 million $67.20 million $64.80 million
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