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On July 1, 2019. Crane Company purchased new equipment for $75,000. Its estimated useful life was 5 years with a $8,000 salvage value. On December 31, 2022, the company estimated that the equipment's remaining useful life was 10 years, with a revised salve value of $5,000, Your answer is partially correct. Prepare the journal entry to record depreciation on December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense Accumulated Depreciation Equipment e Textbook and Media pro s te-486-4367-bc150 204/assessments/0417093efadf-426-9572-40503. Po Your answer is partially correct. Prepare the journal entry to record depreciation on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense 13 11400 Accumulated Depreciation Equipment e Textbook and Media List of Accounts X Your answer is incorrect. Compute the revised annual depreciation on December 31, 2022 Revised annual depreciations UUUU t ion on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent morally not required, select "No Entry for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit Depreciation Expense Accumulated Depreciation Equipment 4150 e Textbook and Media List of Accounts X Your answer is incorrect. Compute the balance in Accumulated Depreciation Equipment for this equipment after depreciation expense has been recorded on December 31, 2022 Accumulated Depreciation-Equipments 42650 e Textbook and Media

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