Required information [The following information applies to the questions displayed below) Manrow Growers, Inc, owns equipment for sowing and harvesting its organic fruit, vegetables, and tree nuts that are sold to local restaurants and grocery stores. At the beginning of 2019, an asset account for the company showed the following balances Equipment Accumulated depreciation through 2018 $350,000 165,000 During 2019, the following expenditures were incurred for the equipment Major overhaul of the equipment on January 1, 2019, that improved etilency Routine maintenance and repairs on the equipment $42.000 5000 The equipment is being depreciated on a straight-line basis over an estimated life of eight years with a $20,000 estimated residual value. The annual accounting period ends on December 31 Required: 1. Prepare the adjusting entry that was made at the end of 2018 for depreciation on the equipment. Of no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction lit Journal entry worksheet Record the adjusting entry for depreciation on the equipment during 2018 N Enter dobber Transaction General Joure Credit Recordatory Clean Required information [The following information applies to the questions displayed below) Manrow Growers, Inc, owns equipment for sowing and harvesting its organic fruit, vegetables, and tree nuts that are sold to local restaurants and grocery stores. At the beginning of 2019, an asset account for the company showed the following balances Equipment Accumulated depreciation through 2018 350,000 165.000 During 2019, the following expenditures were incurred for the equipment Major overhaul of the equipment on January 1, 2019, that improved friency Routine maintenance and repairs on the equipment $42.000 9.000 The equipment is being depreciated on a straight-line basis over an estimated life of eight years with a $20.000 estimated residual value. The annual accounting period ends on December 31 2. Starting at the beginning of 2019, what is the remaining estimated life? Remaining te years