Multiple Choice
A piece of equipment was recently purchased for $10,600 on June 30.It is estimated that it will last for 10 years and have a residual value of $400.The amortization expense to be recognized in the year of acquisition, assuming a December year-end, would be:
A) $1,020.00
B) $510.00
C) $318.75
D) $637.50
Correct Answer:
Verified
Correct Answer:
Verified
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