Gravel Inc. purchased a piece of heavy equipment on March $1,2022,$ for $$108,240.$ The useful life of the equipment is estimated to be $11$ years, at which time the company expects it to be worthless. Prepare the adjusting entry on December $31,2022,$ to record the equipment$$s depreciation using the straight$-$line depreciation method.

Do not enter dollar signs or commas in the input boxes.

Round your answer to the nearest whole number.

Date Account Title and Explanation Debit Credit

$2022$

Dec $31$ Answer

Depreciation Expense

Answer

Answer

Accumulated Depreciation

Answer

To record depreciation of the equipment