On August 1, 20x1, Acme Corp. purchased equipment for $53,711 with an estimated salvage value of...
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On August 1, 20x1, Acme Corp. purchased equipment for $53,711 with an estimated salvage value of $7,794 at the end of its estimated life of 7 years. Acme used the equipment for several years and then sold it on January 31, 20x5 for $11,617. At the time of disposal, the book value of the equipment is Round to the nearest penny. 27 On August 1, 20x1, Acme Corp. purchased equipment for $53,711 with an estimated salvage value of $7,794 at the end of its estimated life of 7 years. Acme used the equipment for several years and then sold it on January 31, 20x5 for $11,617. At the time of disposal, the book value of the equipment is Round to the nearest penny. 27
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