Brief Exercise 3-04 At the end of its first year, the trial balance of Oriole Company shows Equipment $32,300 and zero balances in Accumulated Depreciation Equipment and Depreciation Expense. Depreciation for the year is estimated to be $4,100 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 Dec. 31 Debit Credit Post the adjustments to T-accounts Depreciation Expense Accumulated Depreciation Equipment Oriole Company Balance Sheet (Partial)