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Togo's Sandwiches acquired equipment on April 1,2024, for $18,000. The company estimates a residual value...

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Question

Accounting

Togo's Sandwiches acquired equipment on April 1,2024, for $18,000. The company estimates a residual value of $2,000 and a five-
year service life.
Required:
Calculate and record the year-end adjusting entry for straight-line depreciation expense for 2024 and 2025, assuming a December 31
year-end.
Complete this question by entering your answers in the tabs below.
Depreciation
expense
General
Journal
Record the year-end adjusting entry for straight-line depreciation expense for 2024 and 2025, assuming a December 31 year-end.
Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.
Journal entry worksheet
Record the year-end adjusting entry for straight-line depreciation expense for
2024, assuming a December 31 year-end.
Note: Enter debits before credits.
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