Business, 22.05.2020 17:59, natalie2sheffield

Sadler Corporation purchased equipment to be used in manufacturing. The purchase was made at the beginning of 2015 by paying cash of $150,000. The equipment has an estimated residual value of $10,000 and an expected useful life of 10 years. At the beginning of 2017, Sadler concluded that the total useful life of the equipment will be 8 years rather than 10, and that the residual value will be zero. Sadler uses the straight-line method for depreciation.

Prepare the journal entry to record depreciation on the equipment for 2016.

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Sadler Corporation purchased equipment to be used in manufacturing. The purchase was made at the beg...