Can you help me with Journal entry A & B please? All information is in the attachment. Chem$-$Lite Incorporated, maintains its accounts on the basis of a fiscal year ending March $31.$ At March $31,20$X$1,$ the Equipment account in the general ledger appeared as shown below. The company uses straight$-$line depreciation, a $10-$year life, and $10$ percent salvage value for all its equipment. It is the company's policy to take a full year's depreciation on all additions to equipment occurring during the fiscal year, and you may treat this policy as a satisfactory one for the purpose of this problem. The company has recorded depreciation for the fiscal year ended March $31,20$X$1.$ Upon further investigation, you find the following contract dated December $1,20$X$0,$ covering the acquisition of equipment: Required: Prepare the adjusting entries you would propose as auditor of Chem$-$Lite Incorporated, with respect to the equipment and related depreciation accounts at March $31,20$X$1.($Assume that all amounts given are material.$)$ Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your intermediate computations to the nearest whole dollar value.