Question: Which journal entry reflects the adjusting entry needed on December 31? Last year, BOC purchased software for $10,000. The expected life of the software is

Which journal entry reflects the adjusting entry needed on December 31?

Last year, BOC purchased software for $10,000. The expected life of the software is 2 years and it has no expected salvage value. Now, it is December 31, the end of the fiscal year. No other entries were recorded for this software during the year.

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