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Sagot :
Based on the depreciation of the equipment, the current balance would equal $0 and but it should equal $5,600.
The adjusting entry would be:
Date Account title Debit Credit
December 31 Depreciation expense $5,600
Accumulated depreciation $5,600
How is depreciation recorded?
The current account balance would be $0 because depreciation has not yet been adjusted for.
The depreciation amount would be:
= (48,000 - 8,800) / 7
= $5,600
This amount should be credited to the Accumulated depreciation account, but debited to the Depreciation expense account as expenses usually are.
Find out more on accumulated depreciation at https://brainly.com/question/1287985.
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