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Question - Company purchased a machine in an earlier year for $150,000. This is the only depreciable property owned by the company.
At January 1, Year6 accumulated depreciation on the machine was $40,000. Depreciation expense for Year6 is $15,000.
After the adjustments are recorded and posted at December 31, Year6, what are the balances for the Machine account and the Accumulated Depreciation account? (answers are in that order)
a. $110,000, $55,000
b. $110,000, $15,000
c. $50,000, $15,000
d. $110,000, $15,000
e. $150,000, $55,000
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