On July 1, 2019, Carla Vista Co. purchased new equipment for $90,000. Its estimated useful life was 8 years with a $10,000 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 $5,000.

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 titles and enter O for the amounts.)

(answer the rest in the pic)

On July 1, 2019, Carla Vista Co. purchased new equipment for $90,000. Its estimated useful life was 8 years with a $10,000 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 $5,000. Prepare the journal entry to record depreciation on December 31, 2019. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry' for the account titles and enter 0 for the amounts.) Prepare the journal entry to record depreciation on December 31, 2020. (Credit account titles are outomatically indented when omount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter o for the amounts.) Compute the revised annual depreciation on December 31, 2022. Revised annual depreclation $