(a) On January 1, 2020, Sustco Ltd. purchased a piece of equipment for $16,000. At the time, management determined that the equipment would have a residual value of $3,000 at the end of its five-year life. Sustco has a December 31 year end and uses the straight-line depreciation method. (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.) Account Titles and Explanation Date Debit Credit Jan. 1, 2020 Dec. 31, 2020 Dec. 31, 2021 Dec. 31, 2022