Our company purchases equipment for $300,000 on 1/1/21, salvage value $30,000, useful life 10 years. The Accumulated Depreciation account balance after two years of depreciation expense using straight line depreciation is $$60,000.

Group of answer choices

True

False

Question 2

Best Buy has a cash sale of computer equipment to a customer for $1,000. The PA sales tax is 6%. The amount of cash collected by Best Buy for the sale is $1,600.

Group of answer choices

True

False

No need for an explanation, just the right answer. Thank you so much and I will be upvoting!