Beaver Construction purchases new equipment for $$30,240$ cash on April $1,2026.$ At the time of purchase, the equipment is expected to be used in operations for $6$ years

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References $(72$ months$)$ and has no resale or scrap value at the end. Beaver depreciates equipment evenly over the $72$ months $($ $$420$ per month$).$ The balance of Accumulated Depreciation at the beginning of $2026$ is $$0.$

Determine the accounts to be adjusted on December $31,$ the amount of the adjustment, and the ending balances. Assume no adjustments were previously made during the year.

$\backslash$table$[[,$Accumulated Depreciation,Depreciation Expense$],[$January $1$ Beginning balance,$$,0,$$$,0],[$December $31$ Adjustment,,,,$],[$December $31$ Balance after adjustment,$$,0,$$$,0]]$