On January 1, 2025, RUSSO RESTAURANTS remodeled their locati…
On January 1, 2025, RUSSO RESTAURANTS remodeled their locations by purchasing upgraded cooking equipment for cash at a cost of 450,000, The estimated residual value of the additional equipment was $20,000. The company uses the straight-line method to depreciate cooking equipment over 10 years. At December 31, 2028, what amount will be reported for Accumulated Depreciation?