Saskatchewan Forestry Company purchased a timber tract for $600,000 and estimates that it will bedepleted evenly over its 10-year useful life with no residual value. Show the journal entry that wouldbe recorded if 10 percent of the total timber is cut and placed into inventory during the current year.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Saskatchewan Forestry Company purchased a timber tract for $600,000 and estimates that it will be
depleted evenly over its 10-year useful life with no residual value. Show the journal entry that would
be recorded if 10 percent of the total timber is cut and placed into inventory during the current year.

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