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Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $22,000

Accounting

Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $22,000. The estimated useful life was five years and the residual value was $2,000. Required: 1. Complete a depreciation schedule for the straight-line method. 2. Prepare the journal entry to record Year 2 depreciation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete a depreciation schedule for the straight-line method. Balance Sheet Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5 Journal entry worksheet < A > Record the adjusting entry for depreciation expense for Year 2. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal

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