Prepare the journal entry to record depreciation on December 31,2019 . (Credit account thles are automatically indented when 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) On July 1, 2019, Cullumber Compary purchased new equipment for $85,000 its estimated useful life was 5 years with a $12,000 salvage value. On December 31, 2022, (before calculating annual depreciation) the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5.000. (a) Prepare the journal entry to record depreciation on December 31, 2019. (Credit occount tites are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter Ofor the omounts)