QUESTION 24 Entity L purchased equipment for $22,000 on January 1, 2022. The company expects to use the equipment for 5 years and uses straight line depreciation. The equipment has no salvage value. The entry to record depreciation expense on December 31, 2022 will include: a credit to Equipment for $4.400 a credit to Depreciation Expense - Equipment for $4,400 a debit to Depreciation Expense - Equipment for $4,400 a debit to Accumulated Depreciation - Equipment $4,400