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Company ABC bought equipment on January 1st 2023 for $20,000. The salvage (residual) value of the equipment is $0 and it has a service life

Company ABC bought equipment on January 1st 2023 for $20,000. The salvage (residual) value of the equipment is $0 and it has a service life of 5 years. What is the depreciation at the end of year 1? What would the journal entry be?

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