On January 1, 2019, Excel Energy purchased equipment for $25,000. The company is depreciating the...
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On January 1, 2019, Excel Energy purchased equipment for $25,000. The company is depreciating the equipment at the rate of $1,000 per month. Excel Energy adjusts its accounting records on a monthly basis. At January 31, 2020, the adjusted balance in Accumulated Depreciation is: Select one: a. $62,000 debit b. None of the answer choices is correct C. $12,000 credit d. $1,000 debit e. $13,000 credit
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