The building (barn and office space) has an estimated useful life of 25 years. Record...
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Accounting
The building (barn and office space) has an estimated useful life of 25 years. Record Depreciation for one month. The building was bought on June 3rd for 330,000 and the adjusting entry is for June 30th. I'm unsure how to record depreciation when the item is bought in the middle of the month. Use straight line.
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