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Bichon Company purchased equipment for $6,720 on December 1. It is estimated that annual depreciation on the equipment will be $1,680. If financial statements are

Bichon Company purchased equipment for $6,720 on December 1. It is estimated that annual depreciation on the equipment will be $1,680. If financial statements are to be prepared on December 31, the company should make the following adjusting entry

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