A machine with a cost of $20,000, a salvage value of $8,000 and expected life of 15 years was purchased on September 1. For a calendar year company, the journal entry to record depreciation expense for the first year would be to:
A)debit Depreciation Expense, $67; credit Accumulated Depreciation, $67.
B)debit Depreciation Expense, $333; credit Accumulated Depreciation, $333.
C)debit Depreciation Expense, $267; credit Accumulated Depreciation, $267.
D)debit Depreciation Expense, $200; credit Accumulated Depreciation, $200.

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The Answer of A machine with a cost of $20,000, a salvage value of $8,000 and expected life of 15 years was purchased on September 1. For a calendar year company, the journal entry to record depreciation expense for the first year would be to:
A)debit Depreciation Expense, $67; credit Accumulated Depreciation, $67.
B)debit Depreciation Expense, $333; credit Accumulated Depreciation, $333.
C)debit Depreciation Expense, $267; credit Accumulated Depreciation, $267.
D)debit Depreciation Expense, $200; credit Accumulated Depreciation, $200.

A Machine with a Cost of $20,000, a Salvage Value