Pharoah Company purchased equipment for $18600 on December 1. It is estimated that annual depreciation on the computer will be $3720. If financial statements are to be prepared on December 31, the company should make the following adjusting entry: O debit Depreciation Expense, $310, credit Accumulated Depreciation, $310. O debit Depreciation Expense. $14880: credit Accumulated Depreciation $14880 Odebit Equipment. $18600; credit Accumulated Depreciation, $18600. O debit Depreciation Expense, $3720: credit Accumulated Depreciation, $3720