Brief Exercise 3-04 At the end of its first year, the trial balance of Nygaard Company shows Equipment $30,000 and zero balances in Accumulated Depreaiation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $4,000. Prepare the annual adjusting entry for deprediation at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit Debit Dec. 31 Post the adyustments to T-accounts. Depreciation Expense Accumulated Depreciation- Equipment Indicate the balance sheet presentation of the equipment at December 31