Cheyenne Corp. purchased equipment $2640. If financial statements are to be prepared on December 31, the company should make the following adjusting entr O debit Depreciation Expense, $10560; credit Accumulated Depreciation, $10560. O debit Equipment, $13200; credit Accumulated Depreciation, $13200. O debit Depreciation Expense, $2640; credit Accumulated Depreciation, $2640. O debit Depreciation Expense, $220; credit Accumulated Depreciation, $220.
Cheyenne Corp. purchased equipment $2640. If financial statements are to be prepared on December 31, the company should make the following adjusting entr O debit Depreciation Expense, $10560; credit Accumulated Depreciation, $10560. O debit Equipment, $13200; credit Accumulated Depreciation, $13200. O debit Depreciation Expense, $2640; credit Accumulated Depreciation, $2640. O debit Depreciation Expense, $220; credit Accumulated Depreciation, $220.
Chapter1: Financial Statements And Business Decisions
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Cheyenne Corp. purchased equipment for $13200 on December 1. It is estimated that annual depreciation on the computer will be
$2640. If financial statements are to be prepared on December 31, the company should make the following adjusting entry:
O debit Depreciation Expense, $10560; credit Accumulated Depreciation, $10560.
O debit Equipment, $13200; credit Accumulated Depreciation, $13200.
O debit Depreciation Expense, $2640; credit Accumulated Depreciation, $2640.
O debit Depreciation Expense, $220; credit Accumulated Depreciation, $220.
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