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On January 1, 2013, Street Sweepers Company purchased a new street sweeper. Cash of $30,000 was paid, and the balance of $90,000 was payable on

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On January 1, 2013, Street Sweepers Company purchased a new street sweeper. Cash of $30,000 was paid, and the balance of $90,000 was payable on January 31, 2014. The sweeper has an estimated useful life of four years and no residual value. Considering only these facts, depreciation expense (on the sweeper) for 2013, would be A) $30,000. B) $ 22,500. C) $52,500. D) $26,250. E) None of the above is correct. On December 31, 2011, (end of the accounting period), Marie Company recorded depreciation on its company truck of $100,000. Transaction analysis of the depreciation should reflect the following A) decrease stockholders' equity and increase liabilities. B) decrease assets and increase liabilities. C) decrease stockholders' equity and decrease assets. D) decrease assets and increase stockholders' equity. E) None of the above is correct

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