3. Oriole Company sells equipment on March 31, 2021, for $33,540 cash. The equipment was purchased on January 5, 2018, at a cost of $83,000, and had an estimated useful life of five years and a residual value of $3,100. Oriole Company uses straight-line depreciation for equipment. Adjusting journal entries are made annually at the companys year end, December 31. (a) Prepare the journal entry to update depreciation to March 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 31 (To record depreciation expense.)