Maximus dog company purchased a new supply van on january 1, Ask an Expert

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Maximus Dog Company purchased a new supply van on January 1, 2011, for $35,000. The van is estimated to last for five years and will then be sold, at which time it should be worth approximately $5,000. The company uses straight-line depreciation and has a fiscal year end of December 31.

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Category:- Accounting Basics
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