Cummings corporation purchased new equipment on January 1, 2014. The equipment cost $8,800, had an estimated useful life of four years, and a residual value of $400. Using declining balance amortization, the amortization expense recorded at the end of 2015 should be:

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The Answer of Cummings corporation purchased new equipment on January 1, 2014. The equipment cost $8,800, had an estimated useful life of four years, and a residual value of $400. Using declining balance amortization, the amortization expense recorded at the end of 2015 should be:

Cummings Corporation Purchased New Equipment on January 1, 2014