WAEC - Accounts Principles Of Accounts (2023 - No. 43)

Use the following information to answer the question

Sammy acquired plant an machinery costing ₦120,000 with an estimated useful life of 4 years and residual value of ₦2,000. The sum of the year digits method is used.

The depreciation to be charged for the third year will be
₦3,000
₦4,000
₦1,000
₦2,000

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