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The company s furniture was purchased on January 1 of the current year at a cost of $ 1 8 , 0 0 0 .

The companys furniture was purchased on January 1 of the current year at a cost of $18,000. The furniture had an estimated useful life of four years and is expected to have zero value at the end of the four years. Prepare the December 31 adjusting entry for depreciation.

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