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On january 1 2008 desmet company purchased office equipment

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On January 1, 2008, Desmet Company purchased office equipment that cost $29,000 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $2,400. The equipment had a five year useful life and a $2,600 expected salvage value.

Using straight line depreciation, determine the amount of depreciation expense and the amount of accumulated depreciation that would appear on the December 31, 2010 financial statements?

Reference no: EM13588957

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