On August 1st, Walnut Inc. purchased equipment with a useful life of 10 years. Walnut purchased...

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On August 1st, Walnut Inc. purchased equipment with a useful life of 10 years. Walnut purchased the equipment for $50,000 and reasonably believes they will be able to sell it for $5,000 at the end of its life. Walnut uses straight-line depreciation. What is the adjusting journal entry Walnut Inc. will make on December 31 to record depreciation? Dr. Depreciation expense 1,875; Cr. Accumulated depreciation 1,875 O Dr. Accumulated depreciation 1,875; Cr. Depreciation expense 1,875 Dr. Depreciation expense 4,500; Cr. Accumulated deprectation 4,500 Dr. Accumulated depreciation 4,500; Cr. Depreciation expense 4.500 On August 1st, Walnut Inc. purchased equipment with a useful life of 10 years. Walnut purchased the equipment for $50,000 and reasonably believes they will be able to sell it for $5,000 at the end of its life. Walnut uses straight-line depreciation. What is the adjusting journal entry Walnut Inc. will make on December 31 to record depreciation? Dr. Depreciation expense 1,875; Cr. Accumulated depreciation 1,875 O Dr. Accumulated depreciation 1,875; Cr. Depreciation expense 1,875 Dr. Depreciation expense 4,500; Cr. Accumulated deprectation 4,500 Dr. Accumulated depreciation 4,500; Cr. Depreciation expense 4.500

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Depreciation using Straight line method Cost of asset Salvage value Tot... View the full answer