Equipment purchased for $85,000 on January 1, 2006, was sold on July 1, 2008. The...
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Accounting
Equipment purchased for $85,000 on January 1, 2006, was sold on July 1, 2008. The company uses the straight-line method of computing depreciation with a useful life of 5 years and a $0 salvage value. When recording the sale, the company should record a debit to Accumulated Depreciation for:
$51,000
none of these answers; Accumulated Depreciation is not debited.
$59,500
$42,500
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