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14. Equipment costing $9,600, with an estimated residual value of $1,600, was bought on July, 1, 2018. The equipment is to be depreciated by the

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14. Equipment costing $9,600, with an estimated residual value of $1,600, was bought on July, 1, 2018. The equipment is to be depreciated by the straight-line method for a period of 10 years. The company's financial year is January through December. What will be the journal entry to record the equipment's cost on the balance sheet for December 2018? *

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