Current Attempt in Progress Wildhorse Company uses the straight-line method of depreciation. The company's fiscal...
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Current Attempt in Progress Wildhorse Company uses the straight-line method of depreciation. The company's fiscal year end is December 31 . The following transactions occurred during 2025. Jan. 1 Purchased equipment from the Indigo Company on account for $14,700 plus sales tax of $1,975 and shipping costs of $625. May 13 Paid for $540 routine maintenance on the equipment. Dec. 31 Recorded 2025 depreciation on the basis of a 3-year life and estimated salvage value of $6,950
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Current Attempt in Progress Wildhorse Company uses the straight-line method of depreciation. The company's fiscal year end is December 31 . The following transactions occurred during 2025. Jan. 1 Purchased equipment from the Indigo Company on account for $14,700 plus sales tax of $1,975 and shipping costs of $625. May 13 Paid for $540 routine maintenance on the equipment. Dec. 31 Recorded 2025 depreciation on the basis of a 3-year life and estimated salvage value of $6,950 