Gravel Inc. purchased a piece of heavy equipment on March 1, 2022, for $175,680. The useful life of the equipment is estimated to be 12 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 2022 Dec 31 Depreciation Expense Check Accumulated Depreciation To record depreciation of the equipment Debit Credit 13420 x 13420 x