George Company purchased a van on May 1, 2018, for $800,000. Estimated life of the van was five years, and its estimated residual value was $80,000. George uses the straight-line method of depreciation. Prepare the journal entry to record the depreciation expense for 2018 on the van. Omit explanation.
What will be an ideal response?
Business
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Indicate whether the statement is true or false.
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The center-of-gravity method is used primarily to determine what type of locations?
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