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The asset account, Equipment was purchased on February 1 at $15,000. The depreciation related to the equipment is $700 every month. What adjusting entry is

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The asset account, Equipment was purchased on February 1 at $15,000. The depreciation related to the equipment is $700 every month. What adjusting entry is necessary on February 28? (choose from following accounts: Depreciation expense-equipment, equipment, cash, accumulated depreciation equipment) Account name Dobit Credit

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