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What would be the journal entry

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Question - Snuggly Cheeks is a local charity that commenced operations on January 1, 2020 by providing a free diaper service for new Moms. Snuggly Cheeks uses an encumbrance system to manage costs.

Using the deferral method of accounting, what would be the journal entry for: Snuggly Cheeks spent $44,000 on equipment. Amortization expense on the equipment amounted to $4,000 for 2020.

Reference no: EM133096698

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