QUESTION 10 3 points Save Answer On January 1, 20x8, Johnny's Meat Market purchased equipment for $90,000 that is expected to have a 10-year useful life and a $3,000 salvage value. Straight-line depreciation is used. Adjusting entries are made monthly. What is the adjusting entry for depreciation expense for the month ending December 31, 20X8? Debit: Depreciation expense: equipment...... .725 O a. Credit: Accumulated depreciation: equipment.... .725 Debit: Depreciation expense: equipment. ..9,000 Ob. Credit: Accumulated depreciation: equipment.... ..9,000 Debit: Depreciation expense: equipment........ .750 Credit: Accumulated depreciation: equipment.. . ..750 Debit: Depreciation expense: equipment.............. .8,700 Od. Credit: Accumulated depreciation: equipment........ ..8,700