On January 1, 2018, the general ledger of ACME Fireworks includes the following account balances:

Accounts	Debit			Credit
Cash	$	27,000
Accounts Receivable		50,000
Allowance for Uncollectible Accounts				$	6,100
Inventory		21,900
Land		65,000
Equipment		24,500
Accumulated Depreciation					3,400
Accounts Payable					30,400
Notes Payable (6%, due April 1, 2019)					69,000
Common Stock					54,000
Retained Earnings					25,500
Totals	$	188,400		$	188,400
Record the depreciation for the month of January. 1. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a residual value of $5,300 and a two-year service life.