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What are balances for equipment and accumulated depreciation

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Question - Cathy Company purchased equipment at a cost of $140,000 in January 2018. As of January 1, 2021, depreciation of $80,000 had been recorded on this asset. Depreciation expense for 2021 is $15,000. After the adjustments are recorded and posted at December 31, 2021, what are the balances for Equipment and Accumulated Depreciation?

Reference no: EM133118867

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