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 January 1. 2022, before making its depreciation entry for 2022, the company estimated the remaining useful life to be 10 years beyond December 31, 2022. The new salvage value is estimated to be $5,000. - Your answer is partially correct. 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.) Account Titles and Explanation Debit Credit Depreciation Expense 8000 Accumulated Depreciation-Equipme 8000 Your answer is correct. Prepare the journal entry to record depreciation on December 31, 2020. (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.) Account Titles and Explanation Debit Credit Depreciation Expense Accumulated Depreciation Equipment 81 eTextbook and Media Assistance Used e Textbook List of Accounts x Your answer is incorrect. Compute the revised annual depreciation on December 31, 2022. Revised annual depreciation $ 62000 Prepare the journal entry to record depreciation on December 31, 2022. (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 for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense 5700 Accum Accumulated Depreciation-Equipment eTextbook and Media Assistance Used e Textbook List of Accounts List of Accounts X Your answer is incorrect. depreciation expense has been recorded on December 31, Compute the balance in Accumulated Depreciation-Equipment for this 2022 Accumulated Depreciation-Equipment $ 33700