Exhibit 11-03 ? ? On January 1, 2016, Wheeler, Inc purchased some equipment for $3,900. The equipment had an estimated life of five years and an expected residual value of $200. On July, 1, 2018, the equipment was sold for $1,000. Wheeler uses straight-line depreciation. Refer to Exhibit 11-03, what was the balance in the accumulated depreciation account prior to bringing the depreciation
expense up to date before the disposal?
A) $1,480
B) $1,850
C) $1,050
D) $3,700
A
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