Stear Corp. bought a machine on January 1, 2012 for $30,000. The company follows a policy of depreciating assets at 5 percent each year. What will be the closing credit total of the Accumulated depreciation account after the first year?

A. 3,000 B. 1,500 C. 27,000 D. 28,500

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Stear Corp. bought a machine on January 1, 2012 for $30,000. The company follows a policy of depreciating assets at 5 percent each year. What will be the closing credit total of the Accumulated depreciation account after the first year?A. 3,000 B. 1,500 C. 27,000 D. 28,500

Stear Corp. bought a machine on January 1, 2012 for $30,000. The company follows a policy of depreciating assets at 5 percent each year. What will be the closing credit total of the Accumulated depreciation account after the first year?

A. 3,000 B. 1,500 C. 27,000 D. 28,500