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The Delivery Equipment account in the ledger of A Co has a balance of $17 600 which is the cost of two 2nd hand trucks purchased on 1 January 2015. The Accumulated Depreciation Delivery Equipment account has a balance on 31 December 2016 of $8000, before adjusting entries. No additional delivery trucks have been acquired or sold. The residual value of each truck is estimated to be $800 and the straight-line depreciation method is used. What is the necessary adjusting entry to record annual depreciation on 31 December 2017?
Debit Credit
Average Number
This term often refers to the arithmetic mean, which is calculated by summing all numbers in a set and dividing by the count of those numbers.
Type II Error
A statistical error that occurs when a false null hypothesis is not rejected, also known as a "false negative" finding.
Null Hypothesis
The null hypothesis is a statement in hypothesis testing that there is no effect or no difference, and it serves as a default position until evidence suggests otherwise.
Alternative Hypothesis
A hypothesis that proposes there is a statistically significant difference between two variables, contrasting with the null hypothesis.
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