D Question 13 3 pts Cali Company purchased equipment for $37,200 on November 1. It is estimated that annual depreciation on the equipment will be $7,440. If financial statements are to be prepared on December 31 and no adjusting journal entries have been recorded until December 31, which of the following adjusting entries should be recorded? ODR: Depreciation Expense $1,240; CR: Accumulated Depreciation $1,240 O DR: Equipment $37,200; CR: Accumulated Depreciation $37,200 O DR: Depreciation Expense $7,440; CR: Accumulated Depreciation $7,440 DR: Depreciation Expere $620; CR: Accumulated Depreciation $620