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An expense account was debited on the purchase date quigley

Question - Quigley Co. bought a machine on January 1, 2013 for $1,401,400. It had a $121,500 estimated residual value and a 10-year life. An expense account was debited on the purchase date. Quigley uses straight-line depreciation. This was discovered in 2015.

Prepare the entries related to the machine for 2015.

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Accounting Basics: An expense account was debited on the purchase date quigley

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Accounting Basics: An expense account was debited on the purchase date quigley

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