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Thomas Company purchased a delivery truck for $50,000 and put it in service on January 1, 2019. The estimated salvage value is $5,000 and has
Thomas Company purchased a delivery truck for $50,000 and put it in service on January 1, 2019. The estimated salvage value is $5,000 and has an estimated useful life of 6 years. Using straight-line depreciation, calculate the depreciation expense, accumulated depreciation, and book value for the first two years using the format below. Date Depreciation Expense Accumulated Depreciation Book Value 12/31/19 12/31/20
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