Compute the balance in Accumulated Depreciation-Equipment for this equipment after depreciation expense has been recorded on December 31, 2022 Accumulated Depreciation-Equipment $ eTextbook and Media List of Accounts Attempts: 0 of 3 used Prepare the journal entry to record depreciation on December 31. 2022. (Credit account titles are outomatically indented when amount is entered. Do not indent manuolly. If no entry is required, select "No Entry' for the account titles and enter O for the amounts. On July 1, 2019, Sunland Company purchased new equipment for $80.000. Its estimated useful life was 8 years with a $20.000 salvage value. On December 31, 2022. (before calculating annual depreciation) the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5,000