1. Make journal entries to record (a) purchase of the equipment on January 1 and (b) annual depreciation on December 31 . Include dates and explanations, and use the following accounts: Equipment; Accumulated Depreciation-Equipment; and Depreciation Expense-Equipment. 1a. Record the purchase of the equipment. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Requirements 1. Make journal entries to record (a) the purchase of the equipment on January 1 and (b) annual depreciation on December 31. Include dates and explanations, and use the following accounts: Equipment; Accumulated Depreciation-Equipment; and Depreciation Expense-Equipment. 2. Post to the accounts and show their balances at December 31 . 3. What is the equipment's book value at December 31