Carlos Company purchases $30,000 of equipment on January 1, 2011. The equipment is expected to last…

Carlos Company purchases $30,000 of equipment on January 1, 2011. The equipment is expected to last five years and be worth $5,000 at the end of that time. Prepare the entry to record one year s depreciation expense of $5,000 for the equipment as of December 31, 2011. To record depreciation expense for the year.EventGeneral JournalDebitCredita.

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