At the end of its first year, the trial balance of Cullumber Company shows Equipment $23,000 and zero balances in Accumulated Depreciation Equipment and Depreciation Expense. Depreciation for the year is estimated to be $2,800. Prepare the annual adjusting entry for depreciation at December 31. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 SHOW LIST OF ACCOUNTS LINK TO TEXT Post the adjustments to T-accounts. (Post entries in the order of journal entries presented in the previous part.) Depreciation Expense Accumulated Depreciation Equipment Indicate the balance sheet presentation of the equipment at December 31. Cullumber Company Partial Balance Sheet