On fuly 1. 2019, Sunland Company purchused new equipment for $80,000 its extimated useful life was 8 years with a $20.000 salvage value. On December 31, 2022, (before calculating annual depreciation) the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of 55,000 . (a) Prepare the journal entry to record depreciationon December 31, 2019. Condlt account tititer are qutomatically indented when amount is entered. Do not indent manwally. If no entry is required, select "No Entry' for the account tifles and enter Ofor the amounts)