The estimated amount of depreciation on equipment for the current year is $10,700. Journalize the adjusting entry to record the depreciation. Refer to the Chart of Accounts for exact wording of account titles. Journalize the adusting entry on December 31 to record the depreciation. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DESCRIPTION POSTER DERIT CREDIT DATE ASSETS UABILITIES EQUITY 1 Adjusting Entries 2