Bakesale Enterprises purchased equipment on May 1, 2022 for $6,300. The company expects to use the equipment for 5 years. It has no salvage value. Part 1 What adjusting journal entry should the company make at the end of each month if monthly financials are prepared (annual depreciation is $1,260) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation Debit Credit Part 2 What is the book value of the equipment at May 31, 2022? Book value of the equipment $