At the end of its first year, the trial balance of Rayburn Company shows Equipment $ 22.000 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $2,750. Your answer is correct Prepare the 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 manu Date Account Titles and Explanation Dec. 31 Depreciation Expense Debit Credit 2750 Accumulated quipment 2750 eTextbook and Media List of Accounts Post the adjustments to T-accounts. (Post entries In the order of journal entries presented in the previous part.) n Expense Accumulated Depreciation-Equipment