Equipment was purchased for $20,000, residual value is $1,000 and it is expected that the useful life is 10 years. What is the amount in the Accumulated Depreciation account after 3 years assuming straight-line depreciation?

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The Answer of Equipment was purchased for $20,000, residual value is $1,000 and it is expected that the useful life is 10 years. What is the amount in the Accumulated Depreciation account after 3 years assuming straight-line depreciation?

Equipment Was Purchased for $20,000, Residual Value Is $1,000 and It