On June $6,2024,$ Wildhorse Chocolates Ltd$.$purchased assembly line equipment for $$477,120.$ Wildhorse's management estimated that the equipment had a useful life of four years and an estimated residual value of $$33,600.$ Wildhorse uses the straight$-$line method of depreciation and has a December $31$ year end. On June $21,2026,$ the equipment was sold for $$149,800.$

$($a$)$

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

Date

Account Titles and Explanation

Debit

Credit

June $6,2024$

Equipment

$477120$

$0$

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