Sheridan Inc. owns the following long$-$lived assets

Sheridan Inc. owns the following long-lived assets: Asset Vehicles Equipment Date Purchased Jan. 1, 2023 July 1, 2024 Cost $28,590 14,050 Estimated Useful Life 3 years 5 years Prepare depreciation adjusting entries for each asset for the year ended December 31, 2024, assuming the company uses straight-line depreciation and adjusts its accounts annually. (Credit account titles are automatically indented when amount is entered. DO not indent manually. List all debit entries before credit entries. If rW entry is required, select "NO Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Dec. 31 (To record Accumulated depreciation of vehicles) Dec. 31 (To record Accumulated depreciation of equipment) Debit Credit