Question: On January 1 , 2 0 1 5 Lehner Ltd purchased equipment for $ 6 0 , 0 0 0 and estimates yearly depreciation expense

On January 1,2015 Lehner Ltd purchased equipment for $60,000 and estimates yearly depreciation expense of $7,500. Assuming Depreciation Expense is recorded appropriately each year what will be the balance in accumulated depreciation on December 31,2016?
On January 1,2015 Lehner Ltd purchased equipment for $60,000 and estimates yearly depreciation expense of $7,500. Assuming Depreciation Expense is recorded appropriately each year what will be the balance in accumulated depreciation on December 31,2016?
$7,500
$45,000
$15,000
$52,500

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