Equipment was purchased by Oriole Manufacturing on January 1, 2025, for $140000. Oriole's policy is to adjust its accounts at year-end. Which is the appropriate adjusting journal entry to record depreciation at year-end if the company expects to use the equipment for five years with no salvage value?

O Depreciation Expense Equipment 28000 - Equipment 28000

Accumulated Depreciation Equipment 28000 - Equipment 28000

Accumulated Depreciation - Equipment 28000 Depreciation Expense 28000

Depreciation Expense 28000 Accumulated Depreciation - Equipment 28000