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.

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.$

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.

On January $1,2021,$ Mean Beans had purchased a car costing $$46,000$ with an estimated life of eight years. Mean Beans estimates that it can sell the car for $$9,200$ after eight years.

Required:

$1-$a$.$ For each transaction $,$ record the adjusting entry on december $31,2023$