Equipaent Accunulated Depreciation (beginning of the year) 44,60a 212,06a During the first week of January 2021, the following cash expenditures were incurred for repairs and maintenance: Foutine maintenance and repairs on the equipnent Major overtaul of the equipment that inproved efficiency $3,550 The equipment is being depreciated on a straight-line basis over an estimated life of 15 years with a $26,000 estimated residual value. The annual accounting period ends on December 31. Required: Indicate the effects (accounts, amounts, and + for increase and - for decrease) of the following two items on the accounting equation. using the headings shown below. (Enter any decreases to Assets, Liabilities or Stockholder's Equity with a minus sign.) 1. The adjustment for depreciation made last year at the end of 2020 2. The two expenditures for repairs and maintenance during January 2021