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Find the entry to record the depreciation adjustment

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Question 1: Equipment purchased on January 1, 2013, at a cost of $140,000 has an estimated residual value of $8,000. The equipment is depreciated using the straight-line method over its estimated useful life of 16 years. The company's financial year ends on December 31 each year. If the equipment is sold on June 30, 2017 for $96,700. The entry to record the depreciation adjustment on the equipment in the year 2017 will be?

Reference no: EM132518460

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