Response to the following problem:
Harmless Hospital purchased all its depreciable equipment on January 1, 20X1, for $800,000. This equipment has an estimated useful life of 12 years and an estimated salvage value of 10 percent. The hospital's fiscal year ends on December 31. What amounts should be reported in the hospital's pre adjusted trial balance at May 31, 20X3, for depreciation expense and accumulated depreciation?