On january 1 2012 graham company purchased a new machine, Ask an Expert

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On January 1, 2012, Graham Company purchased a new machine for $2,800,000. The new machine has an estimated useful life of nine years and the salvage value was estimated to be $100,000. Depreciation was computed on the sum-of-the-years'-digits method. What amount should be shown in Graham's balance sheet at December 31, 2013, net of accumulated depreciation, for this machine? (PLEASE SHOW WORK)

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Accounting Basics, Accounting

Category:- Accounting Basics
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