Oriole Ltd purchased equipment on January 1, 2015 at a cost of $189.020. The equipment has an estimated useful life of 10 years and a residual value of $10,640 Oriole realized that there was a declining demand for the product being produced by the equipment Given this indicator of possible impairment, management determined that the recoverable amount of the asset on December 31, 2018 was $97.320. The company uses the straight-line method of depreciation (a) Calculate the annual depreciation and the carrying amount at December 31, 2018 Annual depreciation 5 Carrying amount 5 Your answer is partially correct Record the implementloss. If any on December 31, 2018. (Credit account titles are automatically indented when the most entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Dec 31 ON 30