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ABC purchased a building on May 1, 2017 for $10,980,300. The estimated salvage value was $549,000 and the estimated useful life was 6 years. Assuming
ABC purchased a building on May 1, 2017 for $10,980,300. The estimated salvage value was $549,000 and the estimated useful life was 6 years. Assuming ABC uses straight line depreciation, how much was debited to accumulated depreciation when the building was sold on June 1, 2020?
a
$5,619,771 |
b
$1,738,550 |
c
$5,215,650 |
d
$5,360,529 |
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