On July 1, 2019. Blossom Company purchased new equipment for $75,000. Its estimated useful life was 5 years with a $12.000 salvage value on December 31, 2022. the company estimated that the equipment's remaining suite was 10 years with a revised Salvage value of 55.000 Prepare the journal entry to record depreciation on December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account title and enter for the amounts) Debit Credit Account Titles and Explanation Depreciation Expense 3200 12600 Accumulated Depreciation Equipment e Textbook and Media List of Accounts Prepare the journal entry to record depreciation on December 31, 2020. (Credit accounttiles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account title and enter for the amounts) A