At the end of its first year the trial balance of rayburn, Accounting Basics

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At the end of its first year the trial balance of rayburn

Question: At the end of its first year, the trial balance of Rayburn Company shows Equipment $22,000 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $2,750. Prepare the annual adjusting entry for depreciation at December 31, post the adjustments to T-accounts, and indicate the balance sheet presentation of the equipment at December 31.

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Accounting Basics: At the end of its first year the trial balance of rayburn

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