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Just a review question from a study guide, but I have found out that some of the answers that were given to me were wrong,
Just a review question from a study guide, but I have found out that some of the answers that were given to me were wrong, so I just want to double check to make sure I'm studying the correct information.
Along with the answer, if you could write a brief explanation as well that would be a huge help. Thanks.
16. The Harris Company purchased a computer for $4,500 on December 1. lt is estimated that annual depreciation on the computer will be $900. If financial statements are to be prepared on December 31, the company should make the following adjusting entry a. Debit Depreciation Expense, $900, Credit Accumulated Depreciation, $900 b. Debit Depreciation Expense, $75, Credit Accumulated Depreciation, $75. c. Debit Depreciation Expense, $3,600; Credit Accumulated Depreciation, $3,600. d. Debit Office Equipment, $4,500; Credit Accumulated Depreciation, $4,500Step by Step Solution
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