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Omega Company adjusts its accounts at the end of each month. The following information has been assembled in order to prepare the required adjusting entries at December 31: Depreciation of office equipment is based on an estimated useful life of six years. The balance in the Office Equipment account is $15,840; no change has occurred in the account during the year.By what amount will the book value of the office equipment decline after the appropriate December adjustment is recorded?

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Category:- Accounting Basics
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