Question: PART A Based on the information provided below, select the appropriate answer for 1. and 2. from the dropdown list provided. Cloud Inc. has a

PART A Based on the information provided below, select the appropriate answer for 1. and 2. from the dropdown list provided. Cloud Inc. has a machine that it purchased for $344,000 on January 1, 2023. Annual depreciation on the machine is estimated to be $37,600. What is the adjusting entry needed at the end of the year, Dec 31, 2023

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