Question: please help, will rate Brief Exercise 4-06 At the end of its first year, the trial balance of Blossom Company shows Equipment $21,500 and zero
Brief Exercise 4-06 At the end of its first year, the trial balance of Blossom Company shows Equipment $21,500 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $4,300. Prepare the annual adjusting entry for depreciation at December 31. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit enter an account title for the adjusting entry on enter a debit amount enter a credit amount 31 December 31 enter an account title for the adjusting entry on enter a debit amount enter a credit amount December 31 Dec Post the adjustments to T-accounts. (Post entries in the order of journal entries presented in the previous part.) Depreciation Expense choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date Accumulated Depreciation Equipment enter a debit amount choose a transaction date enter a credit amount Indicate the balance sheet presentation of the equipment at December 31. Blossom Company Partial Balance Sheet Senter a dollar amount enter a balance sheet item select between addition and deduction enter a dollar amount : enter a balance sheet item Senter a total of the two previous amounts
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