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Wildhorse Company uses the straight-line method of depreciation. The company's fiscal year end is December...

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Accounting

Wildhorse Company uses the straight-line method of depreciation. The company's fiscal year end is December 31. The following transactions occurred during 2025.
Jan. 1 Purchased equipment from the Indigo Company on account for $14,700 plus sales tax of $1,975 and shipping costs of $625.
May 13 Paid for $540 routine maintenance on the equipment.
Dec. 31 Recorded 2025 depreciation on the basis of a 3-year life and estimated salvage value of $6,950.
Prepare the necessary entries. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
Date
Account Titles and Explanation
Debit
Credit
image

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