Prepare all necessary journal entries for 2020, 2021, and 2022 related to each of the following scenarios: (a) On June 1, 2020, World of Opportunity Ltd. ("WOO") purchased a piece of equipment for $34,560. At the time, management determined that the equipment would have a residual value of $3,600 at the end of its six-year life. WOO has a December 31 year end and uses the straight-line depreciation method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation June 1, 2020 Dec. 31, 2020 Dec. 31, 2021 Dec. 31, 2022 Debit Credit