Equipment is purchased for $80,000 . It has an eight-year useful life and a $39,250 residual value. Under the double-declining-balance method, what is the depreciation expense for year 3?
a. $11,250
b. $5,250
c. $5,750
d. $6,250
C
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Under a job order system of cost accounting, Cost of Goods Sold is debited and Finished Goods is credited for a:
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