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Thomas Corporation purchased equipment for $48,000 onSeptember 1. It is estimated that annual depreciation on theequipment will be $4,800, but prepares financial statementsmonthly. For the

Thomas Corporation purchased equipment for $48,000 onSeptember 1. It is estimated that annual depreciation on theequipment will be $4,800, but prepares financial statementsmonthly. For the month en Thomas Corporation purchased equipment for \( \$ 48,000 \) on September 1 . It is estimated that annual depreciation on the equipment will be \( \$ 4,800 \), but prepares financial statements monthly. 1 answer

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