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On January 1, 2024, Bartow Company purchased a delivery truck for $45,000. Estimated useful life is a five-year period, after which it will be sold

On January 1, 2024, Bartow Company purchased a delivery truck for $45,000. Estimated useful life is a five-year period, after which it will be sold for $5,000. Record depreciation on December 31, 2024 using straight line method.

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