Foyle Company purchased a new van for floral deliveries on January 1, 2019. The van cost $36,000 with an estimated life of 5 years and $4,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used.
What is the balance of the Accumulated Depreciation account at the end of 2020?
A) $14,400
B) $ 8,640
C) $19,200
D) $23,040
Correct Answer:
Verified
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