On July 1, 2024, Action Printers purchased a printer for $65,000. It expects the printer...
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Accounting
On July 1, 2024, Action Printers purchased a printer for $65,000. It expects the printer to last for four years and have a residual value of $9,000. What is the journal entry to record the depreciation expense for the year ending December 31, 2024 using the straightline method?
A.
Depreciation
ExpenseEquipment
7,000
Accumulated
DepreciationEquipment
7,000
B.
Depreciation
ExpenseEquipment
16,250
Accumulated
DepreciationEquipment
16,250
C.
Depreciation
ExpenseEquipment
32,500
Accumulated
DepreciationEquipment
32,500
D.
Depreciation
ExpenseEquipment
14,000
Accumulated
DepreciationEquipment
14,000
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