Lester Company purchases a piece of equipment on Jan. 2, 2010, for $30,000. The equipment has an estimated life of eight years or 50,000 units of production and an estimated residual value of $3,000. Lester uses a calendar fiscal year. The entry to record the amount of depreciation for 2010, using the double-declining-balance method, is

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The Answer of Lester Company purchases a piece of equipment on Jan. 2, 2010, for $30,000. The equipment has an estimated life of eight years or 50,000 units of production and an estimated residual value of $3,000. Lester uses a calendar fiscal year. The entry to record the amount of depreciation for 2010, using the double-declining-balance method, is

Lester Company Purchases a Piece of Equipment on Jan