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i need help with my homework 12 A company purchases equipment for $90,625 on January 1. It has an estimed residual value of $4,100 and
i need help with my homework
12 A company purchases equipment for $90,625 on January 1. It has an estimed residual value of $4,100 and an estimated useful life of 5 years. The company uses the declining balance method of depreciation Determine the amount of depreciation expense for the FIFTH year 13 A company purchases equipment for $88,000 on January 1. It has an estimad residual value of $4,000 and an estimated useful life of 7 years. The company uses the straight-line method of depreciation. The company sells the equipment on 12/31 after 5 full years of ownership for $30,800 cash. Determine the amount of gain or loss on the sale. (Enter a loss as a negative number) 14. After the adjusting entry is made to set up the estimate for uncollectible accounts, Accounts Receivable has a debit balance of $429,200, Note Receivable has a debit balance of $21,000, and Allowance for Doubtful Accounts has a credit balance of $17.200. What is the net realizable value of the Accounts Receivable Step by Step Solution
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