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Rachel and Grace also decided that Study Solutions would purchase new energy-efficient office equipment. The...

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Accounting

Rachel and Grace also decided that Study Solutions would purchase new energy-efficient office equipment. The equipment will cost $12,000 with a further $1,500 of installation costs. It will be fully installed and ready to use on 1 July 2023. The useful life of the equipment is 6 years with a residual value of $1,000.

Requirement:

a. Calculate the Depreciation and

b. Make the Journal entry

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