For each separate case, record an adjusting entry (if necessary). . Barga Company purchases $36,000 of equipment on January 1. The equipment is expected to last five years and be worth $5,200 at the end of that time. b. Welch Company purchases $11,600 of land on January 1 . The land is expected to last forever. Prepare the entries to record one year's depreciation expense of $6,160 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 requlred for a transaction or event, select "No journal entry requlred" In the flrst account fleld. Journal entry worksheet Note: Enter debits before credits