Lomax enterprises purchased a depreciable asset for 26000
Course:- Accounting Basics
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Lomax Enterprises purchased a depreciable asset for $26,000 on March 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $2,800, Lomax Enterprises should recognize depreciation expense in Year 2 in the amount of?

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