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Question 3.7: Adjustment for Depreciation The estimated amount of deprecia...

Adjustment for Depreciation

The estimated amount of depreciation on equipment for the current year is $4,250. Journalize the adjusting entry to record the depreciation.

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Depreciation Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .           4,250

Accumulated Depreciation—Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                               4,250

Depreciation on equipment.

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