Wolfpack Corp. has determined it should record depreciation expense of $40,000 for the year ending 12/31/X7. Required: In the general journal below, complete the year-end entry to record depreciation.     Debit Credit Dec 31 ? 40,000            ?   40,000

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 5RE: In Year 1, Utica Machinery Company uses the asset from RE11-4 for 7,500 hours. Prepare the journal...
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Wolfpack Corp. has determined it should record depreciation expense of $40,000 for the year ending 12/31/X7.

Required: In the general journal below, complete the year-end entry to record depreciation.

    Debit Credit
Dec 31 ? 40,000  
         ?   40,000
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