Equipment was acquired on January 1, 2019 at a cost of $193,000. The equipment was originally estimated to have a salvage value of $25,000 and an estimated life of 10 years. Depreciation has been recorded through December 31, 2021 using the straight-line method. On January 1, 2022, the estimated salvage value was revised to $36,000 and the useful life was revised to a total of 8 years. Prepare the journal entry to record depreciation expense for 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Depreciation expense for 2022

=

$

Adjusting journal entry at 12/31/22: