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Question Content Area Great Farmlands depreciates their equipment over 7 years. If the depreciation for the year-ended December 31, 2020 was $62,000, the adjusting journal

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Great Farmlands depreciates their equipment over 7 years. If the depreciation for the year-ended December 31, 2020 was $62,000, the adjusting journal entry at year-end must contain which of the following:

debit to Accumulated Depreciation of $62,000 debit to Depreciation Expense of $62,000 credit to Depreciation Expense of $62,000 credit to Equipment of $62,000

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