Question 10 At the end of its first year, the trial balance of Bronowski Company shows Equipment $30,800 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $4,500. Prepare the adjusting entry for depreciation at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Post the adjustments to T-accounts. Depreciation Expense Accumulated Depreciation Equipment Indicate the balance sheet presentation of the equipment at December 31. Bronowski Company Balance Sheet (Partial) Show Work is REQUIRED for this question: Open Show Work Question 8 Crane Real Estate received a check for $27540 on July 1 which represents a 6 month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $27540. Financial statements will be prepared on July 31. Crane Real Estate should make the following adjusting entry on July 31: O Debit Unearned Rent Revenue, $27540; Credit Rent Revenue, $24480. O Debit Rent Revenue, $4590; Credit Unearned Rent Revenue, $4590. O Debit Cash, $27540; Credit Rent Revenue, $27540. O Debit Unearned Rent Revenue, $4590; Credit Rent Revenue, $4590