Equipment was acquired on January $1,2025$ at a cost of $$180,000.$ The equipment was originally estimated to have a salvage value of $$10,000$ and an estimated life of $10$ years. Depreciation has been recorded through December $31,2027$ using the straight$-$line method. On January $1,2028,$ the estimated salvage value was revised to $$16,000$ and the useful life was revised to a total of $8$ years.

Prepare the journal entry to record depreciation expense for $2028.($If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

Depreciation expense for $2028$ $

Adjusting journal entry at $12/31/28$:

Date Account Titles and Explanation

Debit

Credit

Dec. $31$