At the end of its first year, the trial balance of Denton Company shows Equipment $30,000 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $5,000. Prepare the adjusting entry for depreciation at December 31. Date Account/Description Debit Credit Dec. 31 Using T accounts, enter the balances in the accounts below, post the adjusting entry as necessary, and indicate the adjusted balance in each account. (If there is no transaction, enter 0 for the amount.) Depreciation Expense - Equipment 12/31 12/31 Accumulated Depreciation - Equipment 12/31 12/31 Indicate the balance sheet presentation of the equipment at December 31. Balance Sheet: Equipment $ Less: Accumulated Depreciation $