For each separate case, record an adjusting entry (if necessary). a. Barga Company purchases $39,000 of equipment on January 1 . The equipment is expected to last five years and be worth $5,800 at the end of that time. b. Welch Company purchases $11,900 of land on January 1 . The land is expected to last forever. Prepare the entries to record one year's depreciation expense of $6,640 for the equipment and what depreciation adjustment, if any, should be made with respect to the Land account as of December 31? Note: If no entry is required for a transaction or event, select "No journal entry required" in the first account field. Journal entry worksheet Record the depreciation adjustment on equipment on December 31. Note: Enter debits before credits. For each separate case, record an adjusting entry (if necessary). a. Barga Company purchases $39,000 of equipment on January 1 . The equipment is expected to last five years and be worth $5,800 at the end of that time. b. Welch Company purchases $11,900 of land on January 1 . The land is expected to last forever. Prepare the entries to record one year's depreciation expense of $6,640 for the equipment and what depreciation adjustment, if any, should be made with respect to the Land account as of December 31? Note: If no entry is required for a transaction or event, select "No journal entry required" in the first account field. Journal entry worksheet Record depreciation adjustment on land, if any. Note: Enter debits before credits