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Depreciation on equipment for the year is $5,520. Required: (a) Record the journal entry if the company prepares adjustments once a year.* (b) Record the

Depreciation on equipment for the year is $5,520.

Required:

(a) Record the journal entry if the company prepares adjustments once a year.*

(b) Record the journal entry if the company prepares adjustments on a monthly basis.*

*Refer to the Chart of Accounts for exact wording of account titles.

Refer to the Chart of Accounts for exact wording of account titles.

PAGE 1

JOURNAL

DATE DESCRIPTION POST. REF. DEBIT CREDIT

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