On January 1, 2017, Merton Service purchased a conferencing system for $100,000. The system is...
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Accounting
- On January 1, 2017, Merton Service purchased a conferencing system for $100,000. The system is expected to be used for 5 years, after which it can be sold for $16,000. What is the book value of the equipment on December 31, 2017, if Merton uses the straight line method of amortization?
- $28,000
- $40,000
- 60,000
- $48,000
- $28,000
- $40,000
- 60,000
- $48,000
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