At the end of its first year, the trial balance of Swifty Corporation shows Equipment $30,400 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $4,400 Prepare the annual adjusting entry for depreciation at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Dec. 31 Post the adjustments to T-accounts. Depreciation Expense Accumulated Depreciation- Equipment Indicate the balance sheet presentation of the equipment at December 31 Swifty Corporation Balance Sheet (Partial)