. ok Dec. 31 Adjustment (C) Deprecation Expense Acomated Depreciation Equipment 300 300 Even though this account is classified as an asset account, Equipment 167 Depreciation 612 Expense-Equipment Accumulate Depreciation- Captions of english rences 2057 2:29 Captions Knowledge Check 01 On January 1, 2019, the company purchased equipment that cost $10,000. The equipment is expected to be worth about for has a salvage value of $1.000 at the end of its useful life in five years. The company uses straight-line depreciation. It has not recorded any adjustments relating to this equipment during 2019 Complete the necessary journal entry by selecting the account names from the pull down menus and entering doffar amounts in the debit and credit columns View transaction ist View ournal entry worksheet NO Date General Journal 1 Dec 31 Depreciation expense Accumulated depreciation Debit Credit 150 150 ME O 3' E ype here to search go