A company purchased a new delivery van at a cost of $45,000 on January 1. The...
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A company purchased a new delivery van at a cost of $45,000 on January 1. The delivery van is estimated to have a useful life of 6 years and a salvage value of $3,000. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31? Multiple Choice $7,000. $6,500. $4,000. $3,500. A company purchased a new delivery van at a cost of $45,000 on January 1. The delivery van is estimated to have a useful life of 6 years and a salvage value of $3,000. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31? Multiple Choice $7,000. $6,500. $4,000. $3,500.
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