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On January 1, 2016 ABC purchases equipment for $100,000. It uses the DB method for depreciation....

On January 1, 2016 ABC purchases equipment for $100,000. It uses the DB method for depreciation. It has a salvage value of $20,000. It has an estimated life of 8 years. On   5/1/2018, ABC sold the asset for $65,000. Record the JEs on 5/1/18.

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