The estimated amount of depreciation on equipment for the current year is $8,200. Journalize the adjusting entry to record the depreciation. If an amount box does not require an entry, leave it blank.

Dr. Depreciation Expense Account $8,200

Cr. Accumulated Depreciation $8,200

Explanation:

Depreciation is the expense that is charged from the fixed assets to the revenue. All the depreciation of the fixed asset are accumulated in a account of accumulated depreciation, which is contra asset account. the assets are reported on the balance sheet net of accumulated depreciation.