Bucky Badger Inc. purchases a piece of equipment on June 15,…
Bucky Badger Inc. purchases a piece of equipment on June 15, 2021 for $35,000. Company A uses the double declining balance method to calculate depreciation and has determined the equipment has a 5 year useful life and a salvage value of $5,000. What is the journal entry required by Bucky Badger Inc. to record depreciation expense on December 31, 2022? Answer should be expressed as : DR (ACCOUNT NAME) $X,XXX CR (ACCOUNT NAME) $X,XXX No dates or explanations are needed.
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