b) Calculate the amount of depreciation blossom company should record for the year of the equipment purchase

Question 5 On July 1, 2021, Blossom Company purchases equipment for $44,400. The company uses straight-line depreciation. It estimates the equipment will have a 10-year life. Blossom Company December 31 year end. Your answer is correct. Collapse question part Record the purchase of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No the account tities and enter o for the amounts.) Date Account Titles and Explanation Debit Credit July 1/21 Equipment 44400 Cash 44400 By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attemptsi 1 of 2 used