Adjustment for Depreciation of Asset

On December $1,$ delivery equipment was purchased for $$8,448.$ The delivery equipment has an estimated useful life of four years $(48$ months$)$ and no salvage value.

Question Content Area

Using the straight$-$line depreciation method, analyze the necessary adjusting entry as of December $31($one month$)$ using T accounts, and then formally enter this adjustment in the general journal.