Egg Eaters Ltd purchased a ship for 25,000 on I January 19XO, and decided to depreciate it
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Egg Eaters Ltd purchased a ship for £25,000 on I January 19XO, and decided to depreciate it at £2500 each year. At the end of 19X3, it was sold for £ 18,000. Show the entries for these transactions in the accounts. How would the ship have been valued in the firm's balance sheet at the end of 19X2?
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