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Unformatted text preview: the general journal entry to record performance of the services.b) Prepare the general journal entry for collection of the receivable from the credit card company. HTML Editor 5. In January 2011, Rogers Co. purchased a machine that cost $85,000. The equipment is estimated to have a 5-year life and a salvage value of $15,000. a) Compute the amount of depreciation expense for 2011 and 2012 using the double declining balance method.b) Compute the amount of MACRS depreciation for the above equipment for 2011 assuming the property is 5 year property and the MACRS percentage is 20%. HTML Editor...
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- Spring '12