Journal Entry
Particulars | Debit | Credit |
Depreciation Expense | $6,880 | |
Accumulated Depreciation-Equipment | $6,880 | |
(Depreciation on Equipment) |
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TILL. PE 3-7A Adjustment for depreciation OBJ. 2 The estimated amount of depreciation on equipment for...
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The estimated amount of depreciation on equipment for the current year is $7,700. Journalize the adjusting entry to record the depreciation. Refer to the Chart of Accounts for exact wording of account titles.