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April 17, 2014

Homework Help: Accounting

Posted by Anonymous on Thursday, March 29, 2012 at 2:51pm.

Store equipment is purchased on January 1, 2002 at a cost of $14,000 and $1,000 was spent on its installation. The depreciation is written-off at 10% on the original cost every year. The books are closed on December 31, every year.
Prepare a Depreciation Expense-Stores Equipment Account and an Accumulated Depreciation-Stores Equipment Account.

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