Bramble Corp. purchased equipment for $14700 on December 1. It is estimated that annual depreciation on the computer will be $2940. If financial statements are to be prepared on December 31, the company should make the following adjusting entry: debit Depreciation Expense, $11760; credit Accumulated Depreciation, $11760. debit Depreciation Expense, $245; credit Accumulated Depreciation, $245 debit Equipment, $14700; credit Accumulated Depreciation, $14700. debit Depreciation Expense, $2940; credit Accumulated Depreciation, $2940