On January 1, 2021, Leardon Inc

question 219

Multiple Choice

On January 1, 2021, Leardon Inc.purchased equipment for $25,000.The company is depreciating the equipment at the rate of $1,000 per month.At January 31, 2022, the balance in Accumulated Depreciation is:

• A)$1,000 debit.
• B)$12,000 credit.
• C)$13,000 credit.
• D)$62,000 debit.

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