On December 1,20X1,Wilson contributed $25,000 to The Women's Shelter,stipulating that his contribution be used to buy a commercial refrigerator and freezer system.The system was purchased on January 2,20X3.The shelter will depreciate the refrigerator over 5 years using the straight-line method.The shelter has a December 31 year-end and uses the deferral method.At December 31,20X3,the shelter records a journal entry to record depreciation and should also make the following journal entry.
D)No other entry is required.

Question

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The Answer of On December 1,20X1,Wilson contributed $25,000 to The Women's Shelter,stipulating that his contribution be used to buy a commercial refrigerator and freezer system.The system was purchased on January 2,20X3.The shelter will depreciate the refrigerator over 5 years using the straight-line method.The shelter has a December 31 year-end and uses the deferral method.At December 31,20X3,the shelter records a journal entry to record depreciation and should also make the following journal entry.
D)No other entry is required.

On December 1,20X1,Wilson Contributed $25,000 to the Women's Shelter,stipulating That