On July $1,2022,$ Pharoah Company purchased new equipment for $$89,600.$ Its estimated useful life was $7$ years with a $$11,200$ salvage value. On January $1,2025,$ the company estimated that the equipment's remaining useful life was $10$ years, with a revised salvage value of $$5,600.$

Prepare the journal entry to record depreciation on December $31,2022.($List debit entry before credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

CreditPrepare the journal entry to record depreciation on December $31,2023.($List debit entry before credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation ;

Debit

Credit

$$

$$

eTextbook and Media

$$

List of Accounts

Compute the revised annual depreciation on December $31,2025.$

Revised annual depreciation

$Prepare the journal entry to record depreciation on December $31,2025.($List debit entry before credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

$$

$$

$$

$$

eTextbook and Media

List of Accounts

Compute the balance in Accumulated Depreciation$-$Equipment for this equipment after depreciation expense has been recorded on December $31,2025.$

Accumulated Depreciation$-$Equipment

$ $$

eTextbook and Media

List of Accounts