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 depreciate its assets. a. On January 1, 2023, purchase equipment costing $16,500 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 $19,100 with an estimated life of ten years. Mean Beans estimates that it can sell the furniture for $2,800 after ten years. c. On January 1, 2021, Mean Beans had purchased a car costing $43,250 with an estimated life of eight years. Mean Beans estimates that it can sell the car for $8,650 after eight years. Required: 1-a. For each transaction, calculate the current year's annual depreciation expense. a Annual depreciation expense on equipment b. Annual depreciation expense on furniture C Annual depreciation expense on car 4. 1 1-b. For each transaction, record the adjusting entry on December 31, 2023. 10 points Skipped View transaction list Journal entry worksheet < 1 2 3 Print Mc Record annual depreciation on equipment. Note: Enter debits before credits. Date Dec 31, 2023 General Journal Debit Credit View general journal Record entry Clear entry > 1-b. For each transaction, record the adjusting entry on December 31, 2023. View transaction list Journal entry worksheet < 1 NE 3 Record annual depreciation on Furniture. Note: Enter debits before credits. Date Dec 31, 2023 General Journal Debit Credit View general journal Record entry Clear entry 1 nts Skipped Print 1-b. For each transaction, record the adjusting entry on December 31, 2023. View transaction list Journal entry worksheet 2 Record annual depreciation on a Car. Note: Enter debits before credits. Date Dec 31, 2023 General Journal Debit Credit Record entry Clear entry View general journal