Brief Exercise $4-9($Algo$)$ Determine the adjustment for depreciation $($LO$4-3)$

Beaver Construction purchases new equipment for $$47,880$ cash on April $1,2026.$ At the time of purchase, the equipment is expected

to be used in operations for $7$ years $(84$ months$)$ and has no resale or scrap value at the end. Beaver depreciates equipment evenly

over the $84$ months $($ $$570$ per month$).$ The balance of Accumulated Depreciation at the beginning of $2026$ is $$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.