On July 1,2019, Oriole Company purchased new equipment for $80,000. Its estimated useful life was 8 years with a $8,000 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 joumal entry to record depreciation on December 31, 2020. (Credit occount titles are outomaticolly indented whe amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amoun