2 Equipment costing $71,000 was purchased at the beginning of the year for cash. Depreciation on...

Transcribed Image Text:

2 Equipment costing $71,000 was purchased at the beginning of the year for cash. Depreciation on the equipment is $14,200 per year. Prepare the necessary adjusting entry on December 31. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Accumulated depreciation 14,200 Equipment Record entry Clear entry View general journal 2 Equipment costing $71,000 was purchased at the beginning of the year for cash. Depreciation on the equipment is $14,200 per year. Prepare the necessary adjusting entry on December 31. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Accumulated depreciation 14,200 Equipment Record entry Clear entry View general journal