On January 2, 2018, Drake Furniture purchased display shelving for S8,100 cash, expecting the shelving...
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On January 2, 2018, Drake Furniture purchased display shelving for S8,100 cash, expecting the shelving to reain in service for five years. Drake depreciated the shelving on a double-declining-balance basis, with S1,200 estimated residual value. On October 31, 2019, the company sold the shelving for $2,200 cash
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