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Prepare the journal entry for the payment of property taxes on February 23, 2018.
Double-Declining-Balance
An accelerated method of depreciation that doubles the normal depreciation rate to expense the asset more quickly.
Estimated Life
The expected duration over which an asset is likely to be useful or productive in its intended operation, used for depreciation purposes.
Straight-Line Depreciation
A method of allocating an asset's cost evenly across its useful life, resulting in the same depreciation expense each year.
Depreciable Cost
The total cost of a tangible asset that can be depreciated over its useful life, excluding salvage value.
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