Arnold purchased office furniture on June 3 2020, for $28,000 cash. Arnold expects it to remain useful
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Arnold purchased office furniture on June 3 2020, for $28,000 cash. Arnold expects it to remain useful for six years and to have a residual value of $4,000. Arnold uses the straight line depreciation method. record Arnold's depreciation on the furniture for the year ended December 31 2020.
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