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Sunflower Inc. owns a piece of equipment that it had purchased January 1, 2019 for $500,000. The equipment had an estimated useful life of 10
Sunflower Inc. owns a piece of equipment that it had purchased January 1, 2019 for $500,000. The equipment had an estimated useful life of 10 years and a production capacity for 80,000 units. It was expected to have no residual value. The company uses the units of production method to record depreciation for all equipment. The equipment was able to produce 18,000 units in the first year, 20,000 units in the second year and 22,000 units in the third year. The machine was sold at the end of the third year for $150,000. What was the total accumulated depreciation when the equipment was sold
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