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Wardell Company purchased a mini computer on January 1, 2022, at a cost of $37,450. The computer has been depreciated using the straight-line method over an estimated five-year useful life with an estimated residual value of $3,700. On January 1, 2024, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $910.
Required: Prepare the appropriate adjusting entry for depreciation in 2024 to reflect the revised estimate.
Sagot :
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