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Prepare any necessary journal entries for 2020, including adjusting entries. On 1/1/20 Acme Bakery purchased equipment for $50,000 cash. They estimated that they would be

Prepare any necessary journal entries for 2020, including adjusting entries.

On 1/1/20 Acme Bakery purchased equipment for $50,000 cash. They estimated that they would be able to use the equipment for 5 years.

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