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Entity L purchased equipment for $22,000 on January 1, 2022. The company expects to use the equipment for 5 years and uses straight-line depreciation. The

Entity L purchased equipment for $22,000 on January 1, 2022. The company expects to use the equipment for 5 years and uses straight-line depreciation. The equipment has no salvage value. The entry to record depreciation expense on December 31, 2022 will include:

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