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Lido Pizza purchased a new oven that cost $15,000 cash on...

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Accounting

Lido Pizza purchased a new oven that cost $15,000 cash on January 2, 2016. The oven has an expected useful life of five years and an estimated salvage value of $3,000. Tony's uses straight-line depreciation to make adjusting entries each December 31. What amount of accumulated depreciation would Lido's report on the 2017 balance sheet?

a. $3,000

b. $2,400

c. $4,800

d. $7,200

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