A company purchases new equipment for $60,000 cash on October 1, 2018. At the time of purchase, the equipment is expected to be used in operations for four years, and the company depreciate the equipment evenly in each month. Record the adjusting entry for depreciation on December 31, 2018 Dr. Depreciation Expense $15,000 O Cr. Accumulated Depreciation $15,000 Dr. Depreciation Expense $3,750 C. Accumulated Depreciation $3,750 Dr. Depreciation Expense $1,750 O O Equipment $3,750 Dr. Equipment $60,000 Gr. Cash $60,000 O