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Adams and Adams, Inc. (AA), a law firm prepares ANNUAL financial statementsatDecember 31 each year. The following questions relate to the adjusting entries recordedatDecember 31,

Adams and Adams, Inc. (AA), a law firm prepares ANNUAL financial statementsatDecember 31 each year. The following questions relate to the adjusting entries recordedatDecember 31, 2018.

AA had the following balances on the balance sheet at 12/31/2017:

Equipment $183,000 Accumulated depreciation -25,800 Net book value 157,200

Depreciation for 2018 is calculated to be $14,500. What will be the net book value of the equipment after the adjusting entry?

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