5. At the beginning of the year, a company purchases equipment for $200,000 with an estimated salvage value of $10,000 and an estimated useful life of 20 years. a. Record the first year of depreciation assuming the company uses the straight-line method of depreciation: (4 points) Description/Account Debit Credit Illustrate how the above entry will affect the accounting equation: Assets Liabilities Owner's Equity 5. At the beginning of the year, a company purchases equipment for $200,000 with an estimated salvage value of $10,000 and an estimated useful life of 20-years. a. Record the first year of depreciation assuming the company uses the straight-line method of depreciation: (4 points) Description/Account Debit Credit Illustrate how the above entry will affect the accounting equation: Assets Liabilities Owner's Equity