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You purchased some equipment for $12,000 on February 1 . The equipment has an estimated life of 10 years with no residual value. Assume your
You purchased some equipment for $12,000 on February 1 . The equipment has an estimated life of 10 years with no residual value. Assume your fiscal year ends June 30, 20-1. What is your adjusting entry for depreciation at year end. (E) What will be the balance in the Accumulated Depreciation account on June 30,203 ? (F) What will be the balance in the Depreciation Expense account on June 30, 20-3? (A) (B) (C) (D) (E) (F)
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