Holiday Amusement Park paid $ 450 comma 000 for a concession stand. Holiday started out depreciating the building using the straight-line method over 25 years with a residual value of zero. After using the concession stand for five years, Holiday determines that the building will remain useful for only five more years. Record Holiday 's depreciation on the concession stand for year six using the straight-line method. (Record debits first, then credits. Exclude explanations from any journal entries.)
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Home » Business » Holiday Amusement Park paid $ 450 comma 000 for a concession stand. Holiday started out depreciating the building using the straight-line method over 25 years with a residual value of zero.