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1.b. For each transaction, record the adjusung entry on December 31, 2017. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account fleld.) Journal entry worksheet Record annual depreciation on equipment. Note: thter debits before credits. Mean Beans, a local coffee shop, has the following assets on January 1, 2017. Mean Beans prepares annual financlal statements and has a December 31, 2017 year-end. a. On January 1, 2017, purchase equipment costing $20,300 with an estimated life of five years. Mean Beans will scrap the equipment after five years for $0 b. On July 1, 2017, purchase furniture (tables and chairs) costing $13,000 with an estimated life of ten years. Mean Beans estimates that it can sell the furniture for $2,900 after ten years. c. On January 1, 2015, Mean Beans had purchased a car costing $26,500 with an estimated life of elght years. Mean Beans estimates that it can sell the car for $5,300 after eight years. Assume Mean Beans, uses Straight Line Method to depreclate the asset. Required: 1-a. For each transhition, calculate the annual depreciation expense. 2. For the car, determine the accumulated depreclation as of December 31, 2017. 3. For the car, determine the carrying amount as of December 31,2017