Bakesale Enterprises purchased equipment on May 1, 2018 for $6,300. The company expects to use the equipment for 5 years. It has no salvage value.
1. What adjusting journal entry should the company make at the end of each month if monthly financials are prepared (annual depreciation is $1,260)?
2. What is the book value of the equipment at May 31, 2018?

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The Answer of Bakesale Enterprises purchased equipment on May 1, 2018 for $6,300. The company expects to use the equipment for 5 years. It has no salvage value.
1. What adjusting journal entry should the company make at the end of each month if monthly financials are prepared (annual depreciation is $1,260)?
2. What is the book value of the equipment at May 31, 2018?

Bakesale Enterprises Purchased Equipment on May 1, 2018 for $6,300