(Answered) 1 in january 2010 installation costs of 6000 on new

Accounting

1. In January 2010, installation costs of $6,000 on new machinery were charged to Repair Expense. Other costs of this machinery of $30,000 were correctly recorded and have been depreciated using the straight-line method with an estimated life of 10 years and no salvage value. At December 31, 2011, it is decided that the machinery has a remaining useful life of 20 years, starting with January 1, 2011. What entry(ies) should be made in 2011 to correctly record transactions related to machinery, assuming the machinery has no salvage value? The books have not been closed for 2011 and depreciation expense has not yet been recorded for 2011.

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