Final answer:
If the estimated depreciation for equipment were $600, the adjusting entry would contain a debit to Depreciation Expense for $600 and a credit to Accumulated Depreciation for $600.
Step-by-step explanation:
If the estimated depreciation for equipment were $600, the adjusting entry would contain a debit to Depreciation Expense for $600 and a credit to Accumulated Depreciation for $600.
This is because depreciation is an expense that reduces the value of an asset over time. When adjusting a company's financial statements, the estimated depreciation expense is recognized by recording a Debit to Depreciation Expense and a Credit to Accumulated Depreciation.
Depreciation is a common concept in accounting and is used to allocate the cost of long-term assets over their useful life.