Shown below are the T-accounts relating to equipment that was purchased for cash by a company on the first day of the current year. The equipment was depreciated on a straight-line basis with an estimated useful life of 10 years and a salvage value of $ 250. Part of the equipment was sold on the last day of the current year for cash proceeds. Cash Jan 1 (a) Dec. 31 600 Equipment Jan. 1 1.250 Dec 31 590 Accumulated Depreciation Equipment Dec. 31 250 Dec 31 190 Depreciation Expense Dec. 31 (6) Gain on Disposal of Plant Assets Dec 31 c) Prepare the journal entry to record depreciation recorded on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. I no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Depreciation Expense 100 Accumulated Depreciation Equipment 100 What was the depreciation expense? Depreciation Expense Dec. 31 100