Cactus Company purchased a new machine on August 1, 2017. At that time, the original...
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Accounting
Cactus Company purchased a new machine on August 1, 2017. At that time, the original cost of the machine was recorded at $180,000 with an estimated salvage value of $40,000. Total service hours expected for this machine is 100,000. During 2017, the machine was used for 825 hours. During 2018, the machine was used for 3,115 hours.
What is the amount of depreciation expense recorded by Cactus Company on their year-end 2018 Income Statement?
What is the balance of the Accumulated Depreciation account on Cactus Company's year-end 2018 Balance Sheet?
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