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Wilco Inc. applies straight-line depreciation to a piece of equipment purchased in a prior year....

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Accounting

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Wilco Inc. applies straight-line depreciation to a piece of equipment purchased in a prior year. How will this transaction affect the accounting equation? Decrease Non-Cash Assets and Decrease Contributed Capital Decrease Cash and Decrease Retained Earnings Decrease Non-Cash Assets and Decrease Retained Earnings Decrease Cash and Increase Retained Earnings

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