Sunland Company purchased equipment for $30000 on December 1. It is estimated that annual depreciation on the equipment will be $7500. If financial statements are to be prepared on December 31, the company should make the following adjusting entry: O Debit Equipment, $30000; Credit Accumulated Depreciation, $30000. O Debit Depreciation Expense, $625; Credit Accumulated Depreciation, $625. O Debit Depreciation Expense, $7500; Credit Accumulated Depreciation, $7500. O Debit Depreciation Expense, $22500; Credit Accumulated Depreciation, $22500.