Adjustment for Depreciation of Asset On December 1, delivery equipment was purchased for $8,928. The dellivery equipment has an estimated useful life of four years (48 months) and no salvage value. 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. If an amount box does not require an entry, leave it blank