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Please help asap thank you! Adjustment for depreciation The estimated amount of depreciation on equipment for the current year is $66,290. Journalize the adjusting entry

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Adjustment for depreciation The estimated amount of depreciation on equipment for the current year is $66,290. Journalize the adjusting entry to record the depreciation. If an amount box does not require an entry, leave it blank. Feedback 7 Check My Work Depreciation expense is the allocation of a fixed asset's cost over the period used. The fixed asset account is not touched or decreased when recording the expense. A contra-asset is credited instead of the fixed asset as the offset to expense

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