At the end of its first year, the trial balance of Nygaard Company shows Equipment $34,400 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $4,800. Prepare the adjusting entry for depreciation at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit: Credit Date Dec. 31 Accumulated Depreciat 4,800 29200 Post the adjustments to T-accounts. Depreciation Expense 12/31 Accumulated Depreciation- Equipment Indicate the balance sheet presentation of the equipment at December 31 Bronowski Company Balance Sheet (Partial)