Sunland Company purchased equipment for $14400 on December 1. It is estimated that annual depreciation on the computer will be $2880. If financial statements are to be prepared on December 31, the company should make the following adjusting entry: O debit Depreciation Expense, $240: credit Accumulated Depreciation, $240. O debit Equipment, $14400; credit Accumulated Depreciation, $14400. O debit Depreciation Expense, $11520; credit Accumulated Depreciation, $11520. O debit Depreciation Expense, $2880; credit Accumulated Depreciation. $2880.