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Depreciation adjusting entry

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Accumulated depreciation- equipment 1/1/07 was $250,000. At 12/31/07 the balance of the account was $390,000. during 2007, one piece of equipment was sold. The equipment had an original cost of $40,000 and was 1/4 depreciated when sold. Prepare the missing adjusting entry.

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The solution explains how to determine the adjusting entry for depreciation

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The missing adjusting entry relates to depreciation expense. The ending balance is the accumulated depreciation is 390,000 and the beginning ...

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