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Adjustment for Depreciation of Asset On December 1, delivery equipment was purchased for $8,640. The delivery equipment has an estimated useful life of four years (48 months) and no salvage value. Using the straight-line depreciation method, analyze the necessary adjusting entry as of December 31 (one month) using T accounts, and then formally enter this adjustment in the general Journal (Income Statement) Depr. Expense-Delivery Equipment Adj (Balance Sheet) Accum. Depr.-Delivery Equipment Ads Page: DOC. POST ACCOUNT TITLE NO. REF. DATE DEBIT CREDIT 1 20- Dec 31 1 2