Exercise 11-8A (Algo) Recording manufacturing overhead costs in T-accounts LO 11-2 Baird Corporation manufactures model airplanes. The company purchased for $158,000 automated production equipment that can make the model parts. The equipment has a $14,000 salvage value and a 8 -year useful life. Required a. Assuming that the equipment was purchased on January 1, record in T-accounts the adjusting entry that the company would make on December 31 to record depreciation on equipment