Question 5 of 7 -75 View Policies Current Attempt in Progress On July 1, 2019, Sunland Company purchased new equipment for $80.000. Its estimated useful life was 8 years with a $20,000 salvage value. On December 31, 2022 the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5.000, la) Prepare the Journal entry to record depreciation on December 31, 2019. (Credit account titles 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 for the amounts) Account Tities and Explanation Debit Credit e Textbook and Media List of Accounts Attempts: 0 of 10 used Question Part Score /1 2 4 7 2 3 % 5 A 6 BA 7 8 9 Q W E R T Y C A S D F G H J Z C V B N