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Provide adjusting journal entry for equipment depreciation

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Reference no: EM132898815

Question - HEMI paid $10,000,000 for equipment used to crate (package) its inventory for shipping. This amount has been recorded in the Equipment general ledger account. This equipment is expected to be useful for 500,000 crates at which point it will be taken to a recycling depot. In 2019, the equipment was used to create 50,000 crates.

Provide an adjusting journal entry for equipment depreciation expense using the units of production method (show your calculations).

Reference no: EM132898815

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