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Henry Tax Planning Service bought communications equipment for $9,600 on January 1 of the current year. It has an estimated useful life of 5 years
Henry Tax Planning Service bought communications equipment for $9,600 on January 1 of the current year. It has an estimated useful life of 5 years and zero residual value. Henry uses the straight-line method to calculate depreciation and records depreciation expense in the books at the end of every month. As of June 30 of the same year, the balance in the Accumulated Depreciation account for this equipment is: . $160. b. $1,920. c. $800. d. $960
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