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On January 1, 2020, Pink Corp. 'sold' a machine for $3000 to Slink Corp., its wholly-owned subsidiary. Pink paid $9000 for this machine. At January
On January 1, 2020, Pink Corp. 'sold' a machine for $3000 to Slink Corp., its wholly-owned subsidiary. Pink paid $9000 for this machine. At January 1, 2020, accumulated depreciation was $5000. The remaining useful life is assumed to be 10 years. Straight line depreciation is used by both companies. In Pink's December 31, 2020 consolidated balance sheet, at what amount should ACCUMULATED DEPRECIATION be reported? BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000
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