Problem

On March 12, 2008, Shoreham, Inc. acquired melting equipment for $45,600.  The estimated l...

On March 12, 2008, Shoreham, Inc. acquired melting equipment for $45,600.  The estimated life of the equipment is 6 years, with an estimated residual value of $2,400.

 Sayville Dairy sold a delivery truck for cash of $8,680.  The original cost of the truck was $33,600, and a loss of $5,320 was recognized on the sale.  The accumulated depreciation at the date of sale must have been:

a $24,920. b $14,560. c $3,360. d $19,600.

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Solutions For Problems in Chapter 9