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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.
Trade Barriers
Measures imposed by governments to restrict or control international trade, often to protect domestic industries.
Organizational Culture
The shared values, beliefs, and norms that influence the behavior of individuals within an organization.
Values
Core beliefs or standards that guide behavior and decision-making within an organization or individual.
Licensing
A business arrangement in which one company gives another company permission to manufacture its product for a specified payment.
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