Current Attempt in Progress On July 1, 2019 Oriole Company purchased new equipment for $80,000. Its estimated useful life was 8 years with a $8.000 salvage value. On December 31, 2022, the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5,000 (a) Prepare the journal entry to record depreciation on December 31, 2019. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts: Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Attempt of 10 used Saveformer