1 of 1 View Policies Show Attempt History Current Attempt in Progress 0.5/5 On July 1, 2019, Sheridan Company purchased new equipment for $75,000. Its estimated useful life was 5 years with a $10,000 salvage value. On December 31, 2022, the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5.000 (a) Your answer is partially correct Prepare the journal entry to recont 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 O for the amounts) Account Titles and Explanation Accumulated Depreciation Equipment eTextbook and Media List of Accounts Save for Later Debit 3750 Credit 3750 Attempts: unlimited Submit