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On July 1, 2024, Shamrock Company purchases equipment for $33,600 cash. The company uses straight-line depreciation. It estimates the equipment will have a 10-year life.
On July 1, 2024, Shamrock Company purchases equipment for $33,600 cash. The company uses straight-line depreciation. It estimates the equipment will have a 10-year life. Shamrock Company has a December 31 year end. Prepare the adjusting entry for depreciation at December 31, 2024. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)
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