Perez Corporation manufactures model airplanes. The company purchased for $$144,000$ automated production equipment that can make the model parts. The equipment has a $$18,000$ salvage value and a $9-$year useful life.

Required

a$.$ Assuming that the equipment was purchased on January $1,$ record in T$-$accounts the adjusting entry that the company would make on December $31$ to record depreciation on equipment