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The estimated amount of depreciation on equipment for the current year is $8,055.
Journalize the adjusting entry to record the depreciation on December 31. Refer to the Chart of Accounts for exact wording of account titles.
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Question & Answer: The estimated amount of depreciation on equipment for the current year is $8,055……
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Expert Answer
The adjusting entry to record the depreciation on December 31 :-
| Depreciation expense – equipment | 8055 | |
| Accumulated depreciation- equipment | 8055 |
