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The asset depreciates on a straight-line basis at the rate

Question - Sold obsolete store equipment for $630 Cash, The equipment originally cost $2105 and depreciation to March 31 of this year (the end of the first quarter) totals $1200. The asset depreciates on a straight-line basis at the rate of $40 per month and depreciation is calculated to the nearest month (two entries required).

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Accounting Basics: The asset depreciates on a straight-line basis at the rate

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Accounting Basics: The asset depreciates on a straight-line basis at the rate

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