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Use the Q 3 tab to calculate the accumulated depreciation balance after 8 years. Accumulated depreciation should be recorded as a negative number. Transaction #

Use the Q3 tab to calculate the accumulated depreciation balance after 8 years. Accumulated depreciation should be recorded as a negative number.
Transaction #1 in Year 1:
Purchase asset for $60,000; $0 Salvage Value; 3-year useful life. Scrap asset (throw away) in Year 6.
Transaction #2 in Year 3:
Purchase asset for $50,000; $0 Salvage Value; 5-year useful life. Keep asset on books and do not throw away.

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