On May 1, 2021, Concord Company sells office furniture for $291600 cash. The office furniture originally cost $760000 when purchased on January 1, 2014. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $77800. What depreciation expense should be recorded on this asset in 2021? On May 1, 2021, Concord Compa

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On May 1, 2021, Concord Company sells office furniture for $291600 cash. The office furniture originally cost $760000 when purchased on January 1, 2014. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $77800.  What depreciation expense should be recorded on this asset in 2021? On May 1, 2021, Concord Company sells office furniture for  (  $ 291600  ) cash. The office furniture originally cost  (  $ 760000  ) when purchased on January 1, 2014. Depreciation is recorded by the straight-line method over 10 years with a salvage value of  (  $ 77800  ). What depreciation expense should be recorded on this asset in 2021?

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