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Mike installed new fencing around the perimeter of the property. The installation was completed on 6/28/2017 at a cost of $80,000. Mike estimates the useful

Mike installed new fencing around the perimeter of the property. The installation was completed on 6/28/2017 at a cost of $80,000. Mike estimates the useful life of the fencing to be 20 years. Mike uses straight-line depreciation. What is the adjusting entry?

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