Mean Beans, a local coffee shop, has the following assets on January 1, 2023. Mean Beans prepares annual financial statements and has a December 31, 2023 year-end. The company's depreciation policy is to use the straight-line method to depreclate its assets. a. On January 1, 2023, purchase equipment costing $23,200 with an estimated life of five years. Mean Beans will scrap the equipment after five years for $0. b. On July 1, 2023, purchase furniture (tables and chairs) costing $14,100 with an estimated life of ten years. Mean Beans estimates that it can sell the furniture for $3,100 after ten years. c. On January 1, 2021, Mean Beans had purchased a car costing $46,000 with an estimated life of eight years. Mean Beens estimates that it can sell the car for $9,200 after eight years. Required: 1-a. For each transaction, calculate the current year's annual depreciation expense. -b. For each transaction, record the adjusting entry on December 31, 2023. Journal entry worksheet Record annual depreciation on equipment. Note: Enter debits before credits. 1-b. For each transaction, record the adjusting entry on December 31, 2023. Journal entry worksheet Record annual depreciation on Furniture. Note: Enter debits before credits. 1-b. For each transaction, record the adjusting entry on December 31, 2023. Journal entry worksheet