QUESTION 15 The balance in the equipment account before adjustment on December 31, the end of the current year is $60,000 and the balance of accumulated depreciation on December 31, the end of the current year is $24.000. The adjustment amour for depreciation for the year is $12.000. What account should be debited in the journal (1) and for what amount to record the adjusting entry to record this depreciation based on this information? JOURNAL DATE DESCRIPTION PREF Adjusting Entries 12/31 (1) (2) Page 25 DEBIT CREDIT O Depreciation Expense $12.000 O Depreciation Expense $36.000 O Accumulated Depreciation $12,000 Ex$12.000 QUESTION 16 The balance in the equipment account before adjustment on December 31, the end of the current year is $60,000 and the balance of accumulated depreciation on December 31, the end of the current year is $24,000. The adjustment amour for depreciation for the year is $12.000 What account should be credited in the journal (2) and for what amount to record the adjusting entry to record this depreciation based on this information? Page 25 JOURNAL DATE DESCRIPTION PREF Adjusting Entries 12/31 (1) 121 DEBIT CREDIT 2