on july 1, 2022, sunland company purchased new equipment for $92,800. its estimated useful life was 7 years with a $11,600 salvage value. on january 1,2025, the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5,800. (a) prepare the journal entry to record depreciation

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02-11-2022
Business

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on july 1, 2022, sunland company purchased new equipment for $92,800. its estimated useful life was 7 years with a $11,600 salvage value. on january 1,2025, the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5,800. (a) prepare the journal entry to record depreciation

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