Williams Oil Company purchased seismic equipment costing $100,000 on January 1, 2018. The equipment was used in
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Williams Oil Company purchased seismic equipment costing $100,000 on January 1, 2018. The equipment was used in G&G operations for the calendar year 2018. The equipment has an estimated life of 10 years with a salvage value of $20,000. The company uses the straight-line method in computing depreciation. Record the depreciation for the year 2018.
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