At the end of its first year, the trial balance of Ivanhoe Company shows Equipment $22,100 and zero balances in Accumulated Depreciation Equipment and Depreciation Expense. Depreciation for the year is estimated to be $3,700. (a1) Prepare the annual adjusting entry for depreciation at December 31. (List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. 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. 12/31 Adj. 12/31 Bal. Depreciation Expense 12/31 Bal. Accumulated Depreciation- Equipment 12/31 Adj. Indicate the balance sheet presentation of the equipment at December 31. Ivanhoe Company Partial Balance Sheet Less