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Suppose that a catering company is planning to dispose its equipment that costed $10,000, with a useful life of 10 years and a residual value
Suppose that a catering company is planning to dispose its equipment that costed $10,000, with a useful life of 10 years and a residual value of $2,000. Assume that the company has not yet recorded depreciation expense for the last year ended December 31, 2020. Record the depreciation using the straight-line depreciation method.
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