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Blossom Ltd. purchased a piece of equipment on January 1, 2024, for $54,000. At the time, managment determined that the equipment would have a 4-year
Blossom Ltd. purchased a piece of equipment on January 1, 2024, for $54,000. At the time, managment determined that the equipment would have a 4-year useful life and a residual value of $4,800. Blossom uses the double-diminishing-balance depriciation method for its equipment, and the company has December 31 year end. Also assume Astrom sold the equipment on September 25, 2026, for $21,600
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