A business acquired equipment for $135,000 on 1 January 2017. The equipment will be depreciated...
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Accounting
A business acquired equipment for $135,000 on 1 January 2017. The equipment will be depreciated over five years of its useful life using the straight-line depreciation method. The business records depreciation once a year on 31 December. Which of the following is the adjusting entry required to record depreciation on equipment for the year 2017? (Assume the estimated residual value of the acquired equipment is zero.)
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You can see the logs in the Dashboard.