Hudson Company paid $25,000 for office furniture. The company expected it to remain in service for six

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Hudson Company paid $25,000 for office furniture. The company expected it to remain in service for six years and to have a $1,000 residual value. After two years' use, company accountants believe the furniture will last for the next seven years. How much amortization will Hudson record for each of these last seven years, assuming straight-line amortization and no change in the estimated residual value?
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Horngrens Accounting Volume 1

ISBN: 9780135359709

11th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood

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