Assume the 12/31 trial balance for machinery was $10,000. The machinery was acquired on January 1 of
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Assume the 12/31 trial balance for machinery was $10,000. The machinery was acquired on January 1 of the same year, had a useful life of 10 years, and had an expected life salvage value of $1,000 at the end of its life. Assuming that the machinery will be depreciated evenly over its useful life, which of the following is the correct adjusting entry?
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