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TockTick Company records usage of its $1,000,000 equipment (i.e., it records depreciation). Assume it used up one-fifth of the equipment's usefulness. This increases expenses

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TockTick Company records usage of its $1,000,000 equipment (i.e., it records depreciation). Assume it "used up" one-fifth of the equipment's usefulness. This increases expenses $200,000 and decreases assets $200,000 increases assets $200,000 and increases liabilities $200,000 O decreases assets $200,000 and decreases liabilities $200,000 O increases expenses $200,000 and decreases liabilities $200,000 is not a recordable transaction

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