A company purchases new equipment for $24,000 cash on August 1, 2016. Al the time of purchase the opment is expected to be used in operations for four years (40 months and have no resale or scrap value at the end The company depreciate the equipment evenly over the 48 months ($500/month) Record the adjusting entry for depreciation on December 31, 2018 no entry is required for a transaction event, select "No journal entry required in the first account ed.) Journal entry worksheet Record the adjusting entry for depreciation on December 31, 2018 Note: Enter debitore credits General Journal Debit Credit Verwal Record entry ? 4 020 Type here to search