How much was depreciation expense

Reference no: EM132726044

Problem 1: On January 1, 2020, the Accumulated Depreciation-Machinery account of Astros Company showed a balance of $370,000. At the end of 2020, after the adjusting entries were posted, it showed a balance of $395,000. During 2020, one of the machines which cost $125,000 was sold for $60,500 cash. This resulted in a loss of $4,000. Assuming that no other assets were disposed of during the year, how much was depreciation expense for 2020?

Reference no: EM132726044

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