Question: SE 3 - 4 . ?Adjusting Entry for Depreciation Cowley Company just completed its first year of operations. The December 3 1 ?equipment account has

SE3-4. ?Adjusting Entry for Depreciation Cowley Company just completed its first
SE3-4. ?Adjusting Entry for Depreciation Cowley Company just completed its first year of operations. The December 31 ?equipment account has a balance of $20,000. ?There is no balance in the Accumulated Depreciation-Equipment account or in the Depreciation Expense account. The accountant estimates the yearly equipment depreciation to be $5,000. ?Prepare the required adjusting entry to record the yearly depreciation for equipment.
year of operations. The December 31 ?equipment account has a balance of

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