Sky Company purchased a machine for $15,500. The machine is expected to last four years and has a residual value of $1,500. The entry to record depreciation expense at the end of first year using straight-line method is:

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The Answer of Sky Company purchased a machine for $15,500. The machine is expected to last four years and has a residual value of $1,500. The entry to record depreciation expense at the end of first year using straight-line method is:

Sky Company Purchased a Machine for $15,500