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A company purchased new furniture at a cost of $20,000 on September 30

Accounting

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A company purchased new furniture at a cost of $20,000 on September 30. The furniture is estimated to have a useful life of 10 years and a salvage value of $5,000. The company used a straight-line method of depreciation. How much depreciation expense will be recorded for the furniture for the first year ended Dec 31?