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A company bought a copy machine on January 1, 2024 for $11,000. It is expected to have a useful life of five years and a
A company bought a copy machine on January 1, 2024 for
$11,000.
It is expected to have a useful life of five years and a residual value of
$3,000.
On November 1, 2024, the copy machine was sold for
$2,000.
What is the amount of adjustment that needs to be made for the 2024 depreciation expense assuming the
straightline
method is used? (Round all calculations to the nearest dollar.)
A.
$2,933
B.
$1,333
C.
$800
D.1600
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