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On July 31, 2021 the company purchased new warehouse equipment in the amount of $56,500. No depreciation has been recorded yet in 2021 for this

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On July 31, 2021 the company purchased new warehouse equipment in the amount of $56,500. No depreciation has been recorded yet in 2021 for this new asset. It is estimated to have a useful life of 7 years and a salvage value of $7,500

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