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 $160. Part of Prepare the journal entry to record depreciation recorded on December 31. (List all debit entries before credit entries. Credit account titles are outomotically indented when the amount is entered. Do not indent manuolly, if no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) What was the depreciation expense