Question 1 5 pts On October 1, 2019, a company purchases equipment for $80,000. The company uses the straight-line depreciation method and estimates that the equipment will have a useful life of five years and a salvage value of $10,000. The company's annual accounting period ends on December 31. In the adjusting entry on December 31, 2019, the company will: Debit Depreciation Expense $3,500; credit Accumulated Depreciation $3,500 Debit Depreciation Expense $14,000: credit Equipment $14.000 Debit Depreciation Expense $10.500: credit Accumulated Depreciation $10,500 Debit Depreciation Expense $14,000: credit Accumulated Depreciation $14,000