Sunland Inc. owns the following long-lived assets: Asset Date Purchased Cost Estimated Useful Life Vehicles Equipment Jan. 1, 2020 July 1, 2021 $39,900 3 years 13,300 5 years (a) Prepare depreciation adjusting entries for each asset for the year ended December 31, 2021, assuming the company uses straight-line depreciation and adjusts its accounts annually. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Dec. 31 Debit Credit Dec. 31