In January 2018, Klemtu Inc. purchased two pieces of used equipment for $205,000. A discussion with a used equipment broker determined that the first piece of equipment was worth about $81,000. Management estimates that the first piece will have a useful life of Six years and the second piece a useful life of Ten years. Management has decided to use straight-line depreciation Required: Prepare the journal entries that Klemtu would make to record the purchase of the two pieces of equipment. What entry would be made to record the depreciation expense for the year ended December 31, 2018? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)