Sheffield Company purchases equipment for $$8000$ on November $1,2020.$ It is estimated that annual depreciation on the equipment will be $$1560.$ Assuming adjusting entries are onlyprepared at year$-$end, the company should make the following adjusting entry:

Debit Depreciation Expense, $$260$; Credit Accumulated Depreciation, $$260.$

Debit Depreciation Expense, $$780$; Credit Equipment, $$780$

Debit Depreciation Expense, $$1560$; Credit Accumulated Depreciation, $$1560.$

Debit Accumulated Depreciation, $$260$; Credit Depreciation Expense, $$260.$