Current Attempt in Progress Pharoah Company purchased a depreciable asset for
$617000
on April 1, 2023. The estimated salvage value is
$59000
, and the estimated total useful life is 5 years. The straight-line method is used for depreciation. What is the balance in accumulated depreciation on May 1, 2026 when the asset is sold?
$344100

$260400

$306900

$241800
eTextbook and Media Attempts: 0 of 2 used

Question

Current Attempt in Progress Pharoah Company purchased a depreciable asset for

$617000

on April 1, 2023. The estimated salvage value is

$59000

, and the estimated total useful life is 5 years. The straight-line method is used for depreciation. What is the balance in accumulated depreciation on May 1, 2026 when the asset is sold?

$344100

$260400

$306900

$241800

eTextbook and Media Attempts: 0 of 2 used

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