On November 1, 2023, the company purchased additional equipment at a cost of $50,000. This equipment has a $15,000 salvage value, a 5 year life and is depreciated using the straight-line method. Annual depreciation expense for all other equipment is $108,000. The annual depreciation expense for the buildings is $52,000. (Hint: Debit Depreciation expense for the total but book the accumulated depreciation to the building and equipment to separate accounts.) What is the adjusting entry?

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