Question: Item 2 : Entity B purchased equipment for $ 1 8 0 , 0 0 0 on January 1 , 2 0 2 4 ?

Item 2: Entity B purchased equipment for $180,000 on January 1,2024? with an estimated salvage value $30,000 and a five-year useful life. Compute the annual depreciation and then show what this asset looks like on the balance sheet at the end of the third year (prepare a partial classified balance sheet). Show your work.
Item 2: Entity B purchased equipment for $180,000 on January 1,2024?

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