The estimated amount of depreciation on equipment for the current year is $2,150. Journalize the adjusting entry to record the depreciation.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The estimated amount of depreciation on equipment for the current year is $2,150. Journalize the adjusting entry to record the depreciation.

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Adjusting journal entry: At year end when company finalise its accounts then any unrecognized income or expenses for the period is adjsuted in accounts by adjusting entry at the end of accounting period.

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