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Metros depreciable equipment has a cost of $30,000, a five-year life, and no salvage value. The equipment was purchased in 2021. The straight-line depreciation method

Metros depreciable equipment has a cost of $30,000, a five-year life, and no salvage value. The equipment was purchased in 2021. The straight-line depreciation method is used. Prepare Metro's adjusting entry on December 31, 2023.

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