On January 2, 2006, Hagen Corporation purchased equipment costing $72,000. Hagen performsadjusting entries monthly.a. Record this equipment’s depreciation expense on December 31, 2011, assuming its estimatedlife was eight years on January 2, 2006.b. Determine the amount of the equipment’s accumulated depreciation reported in the balancesheet dated December 31, 2011.

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