For each separate case, record an adjusting entry (if necessary). a. Barga Company purchases $30,000 of equipment on January 1. The equipment is expected to last five years and be worth $4,000 at the end of that time b. Welch Company purchases $11.000 of land on January 1. The land is expected to last forever Prepare the entries to record one year's depreciation expense of $5,200 for the equipment and what depreciation adjustment. If any. should be made with respect to the Land account as of December 317 (if no entry is required for a transaction/event, select "No journal entry required" in the first account feld) View transaction list Journal entry worksheet