Business, 09.04.2020 03:34 hiitslillyhere

Hercules Company purchased a computer for $4,800 on December 1. It is estimated that annual
depreciation on the computer will be $960. If financial statements are to be prepared on December
31, the company should make the following adjusting entry:
Debit Office Equipment, $4,800; Credit Accumulated Depreciation, $4,800.
Debit Depreciation Expense, $960; Credit Accumulated Depreciation, $960.
Debit Depreciation Expense, $80; Credit Accumulated Depreciation, $80.
Debit Depreciation Expense, $3,840; Credit Accumulated Depreciation, $3,840.

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Hercules Company purchased a computer for $4,800 on December 1. It is estimated that annual
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