St the end of first yesr the trial balance of pharoah company shows equipment $$28160$ and zero balances in Accumulated depreciation$-$equipment and depreciation expense. Depreciation for the year is estimated to be $$3520$

Prepare the annual adjusting entry for depresiation at december $31$ Date Account Titles and Explanation

Debit

Credit

Dec. $31$

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List of Accounts

Post the adjustments to T$-$accounts. $($Post entries in the order of journal entries presented in the previous part.$)$

Depreciation Expense

Accumulated Depreciation$-$Equipment