Exercise $11-8$A $($Algo$)$ Recording manufacturing overhead costs in T$-$accounts LO $11-2$

Fanning Corporation manufactures model alrplanes. The company purchased for $$259,000$ automated production equipment that can

make the model parts. The equlpment has a $$19,000$ salvage value and a $12-$year useful life.

Requlred

a$.$ Assuming that the equipment was purchased on January $1,$ record in T$-$accounts the adjusting entry that the company would make

on December $31$ to record depreciation on equipment.