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Determine the account and amount to be debited and the account and amount to be...

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Accounting

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Determine the account and amount to be debited and the account and amount to be credited for the following adjustment Equipment purchased for $59,000 on January 3, 2019, has an estimated life of 4 years and an estimated salvage value of $5.200. The firm uses the straight-line method of depreciation. Determine the adjustment for the month ended January 31, 2019. (Round your answers to 2 decimal places.) 5629 View transaction list Journal entry worksheet Record adjusting entry for depreciation. Note: Enter debts before credits. General Journal Debit Credit Jan 31, 2019 Clear entry View general journal

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