At the end of its first year, the trial balance of Pharoah Company shows Equipment $22,800 and raro balances in Accumulated Depreciation-Equipment and Depreciation Expense Depreciation for the year is estimated to be $3,000 Prepare the annual adjusting entry for depreciation at December 31. (If no entry is required, select "Wo Entry for the account titles and enter for the amounts Credit acco titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Depreciation Expense 3000 3000 Accumulated Depreciation Equipment LINK TO TEKT Post the adjustments to T-accounts. (Post entries in the order of journal entries presented in the previous part.) Depreciation Expense Accumulated Depreciation--Equipment . LINK TO TEXT Post the adjustments to T-accounts. (Post entries in the order of journal entries presented in the previous part.) Depreciation Expense cumulated Depreciation Equipment Op. Bal. 12/31 12/31 Bal. LINK TO TEXT Indicate the balance sheet presentation of the equipment at December 31, Pharoah Company Partial Balance Sheet $ Click if you would like to Show Work for this question: Open Show Work