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On July 1, 2018, Coyle Corp. purchased equipment at a cost of $400,000. The equipment is expected to have a useful life of 8 years

On July 1, 2018, Coyle Corp. purchased equipment at a cost of $400,000. The equipment is expected to have a useful life of 8 years with a zero salvage value. Coyle Corp. uses the straight-line method to record equipment depreciation. Prepare the necessary adjustment to record depreciation on the equipment from July 1, 2018 through December 31, 2018 in general journal form.

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