Question Help On January 2, 2023, Loved Clothing Consignment purchased showroom fotures for $14.000 cash,...
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Question Help On January 2, 2023, Loved Clothing Consignment purchased showroom fotures for $14.000 cash, expecting the futures to remain in service for five years. Loved has depreciated the futures on a double-decining balance basis, wher residual value. On August 31, 2024. Loved sold the futures for 57,300 cash. Record both depreciation expense for 2004 and sale of the factures on August 31, 2024. Record its first, the credits. Select a explanation on the last line of the joumal entry table. Note that 2033 depreciation was recorded and posted in 2023.) Begin by recording the depreciation expense for January 1, 2024 through August 31, 2024 Date Accounts and Explanation Debit Credi Aug 31
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