Question 6 of 15 View Policies Current Attempt in Progress Sheridan Company purchased equipment for $10800 on December 1. It is estimated that annual depreciation on the equipment will be $2700. If financial statements are to be prepared on December 31, the company should make the following adjusting entry: Debit Depreciation Expense, $225; Credit Accumulated Depreciation, $225. Debit Equipment, $10800; Credit Accumulated Depreciation, $10800. Debit Depreciation Expense, $2700; Credit Accumulated Depreciation, $2700. Debit Depreciation Expense, $8100; Credit Accumulated Depreciation, $8100. e Textbook and Media Save for Later