Pessimistic Oil Company purchased seismic equipment on March 1, 2017, costing $120,000. The seismic equipment was used in G&G operations for the remainder of the calendar year (2017) and is assumed to have a 10-year useful life with no salvage value. REQUIRED: Prepare the entries to record the purchase and depreciation of the equipment For numerical answers: (1) DO NOT use commas to separate thousands places in numerical answers (2) use a minus sign to indicate negative numbers.(3) DO NOT use dollar signs. (4) amounts should be entered from smallest (at top of the entry line items) to largest (at bottom of the entry), which is ascending order. Account Debit Credit > 4