Please help! Wiater Company operates a small manufacturing facility. On January $1,2021,$ an asset account for the company showed the following balances:

Equipnent

Accurulated Depreciation $($beginning of the year$)$

$5238,080$

$62,080$

During the first week of January $2021,$ the following cash expenditures were incurred for repairs and maintenance:

Routine nsintenance and repairs on the equipment

$52,458$

Major overhaul of the equipnent that improved efficiency

$27,809$

The equipment is being depreciated on a straight$-$line basis over an estimated life of $15$ years with a $$14,000$ estimated residual value. The annual accounting period ends on December $31.$

Prepare the adjusting entry that should be made at the end of $2021$ for depreciation. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

Record the depreciatian expense for the year $2021.$

Noxa. Erer debts betore credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$Dec $31,2021,$Depreciation Expense,,$],[$Acaimulsted Deprecasian Epupment.,,$],[,,],[,,],[,$ar a$,,]]$