At the end of its first year, the trial balance ofSunlandCompany shows Equipment $34,400and zero balances in Accumulated DepreciationEquipment and Depreciation Expense. Depreciation for the year is estimated to be $3,730.

Prepare the 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

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Depreciation Expense

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Accumulated Depreciation Equipment

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