On July 1, 2019. Crane Company purchased new equipment for $80,000. 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 useful life was 10 years with a revised salvage value of $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. I no entry is required, select "No Entry for the account tities and enter for the amounts.) Account Titles and Explanation Debit Credit Dupitian Exp Accumulated Depreciation Equipment e Textbook and Media List of Accounts Your answer is purlisilly correct Prepare the joumal 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 cities and enter for the amounts Account Titles and Fxplanation Debit Credit Depreciation Expense Accumulated Depreciation Equipment Textbook and Media List of Accounts Your answer is incorrect Compute the revised annual depreciation on December 31, 2022. Revised annual depreciation $ Textbook and Media List of Accounts Your answer is partially corrert. 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 tities and enter for the amounts. Account Tilles and Explanation Debit Credit Depreciation Expo Accumulated Depreciation Equipment Textbook and Media List of Accounts Your answer is incorrect. Compute the balance in Accumulated Depreciation-Fouipment fo this equipment after depreciation expense has been recorded on December 31, 2022 Accumulated Depreciation Equipment Textbook and Media List of Accounts