At the end of its first year, the trial balance of Cullumber Company shows Equipment $23,000 and zero balances in Accumulated Depreciation—Equipment and Depreciation Expense. Depreciation for the year is estimated to be $2,800. (a1)
Prepare the annual adjusting entry for depreciation at December 31. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit
Dec. 31

enter an account title for the adjusting entry on December 31

enter a debit amount

enter a credit amount

enter an account title for the adjusting entry on December 31