On July 1, 2019, Sheridan Company purchased new equipment for $75,000. Its estimated useful life was 5 years with a $10,000 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 Prepare the journal entry to record depreciation on December 31, 2019. (Credit account tittes are automaticolly indented when omount is entered. Do not indent manually. If no entry Is requlred, 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 automatically indented when amount Is entered, Do not indent manuolly. If no entry Is required, select 'No Entry" for the occount tittes and enter O for the amounts. eTextbook and Media List of Accounts Compute the revised annual depreciation on December 31, 2022. Revised annual depreciation $ Prepare the journal entry to record depreciation on December 31, 2020, (Credit account titles are outomatically indented when omount is entered, Do not indent manuolly. If no entry Is required, select 'No Entry" for the occount tittes and enter O for the amounts. eTextbook and Media List of Accounts Compute the revised annual depreciation on December 31, 2022. Revised annual depreciation \$