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Jayhawk Oil Company purchased seismic equipment on March 1, Year 1, at a cost of...

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Accounting

Jayhawk Oil Company purchased seismic equipment on March 1, Year 1, at a cost of $100,000. The seismic equipment was used in G&G operations for the remaining of the calendar year (Year 1). Compute straight-line depreciation for 2017, assuming a 10 year life and a salvage value of $20,000. What accounts we affected by the purchase and depreciation of the equipment?

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