Bangs Dragon Coffeshop purchased equipment of $12,000 on July 1, 20--. The equipment has a useful life of 4 years and a trade-in value of $2,400 . The adjusting entry for depreciation would involve a
a. credit to Accumulated Depreciation, Equipment of $2,400 .
b. debit to Depreciation Expense, Equipment of $2,400 .
c. credit to Equipment of $1,200 .
d. debit to Depreciation Expense, Equipment of $1,200 .
d
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