Requlred Information [The following information applies to the questions displayed below.] Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of the current year, an asset account for the company showed the following balances: During the current year, the following expenditures were incurred for the equipment: Major overhaul of the equipment on January 2 the current year that improved efficiency $15,060 Routine repairs on the equipment 1,200 The equipment is being depreciated on a straight-line basis over an estimated life of 17 years with a $18,000 estimated residual value. The annual accounting period ends on December 31 . Required: - Prepare the adjusting entry that wes made at the end of lest year for depreciation on the manufacturing equipment. Note: Do not round your Intermedlate calculations. If no entry ls requlred for a transactlon/event, select "No journal entry equlred" In the flrst account fleld. Journal entry worksheet Record the adjusting entry for depreciation on the manufacturing equipment at the end of last year. Note: Enter debits before credits