20. A truck was purchased on July 1 for $20,000. The estimated salvage value is $2,000. The estimated useful life is 3 years. Using straight-line method of depreciation, the amount of depreciation in the adjusting entry at fiscal year-end on December 31 is: Depreciation Expense-Truck Accumulated Depreciation-Truck Accumulated Depreciation- Truck a. b. C. d. Depreciation Expense- Truck Depreciation Expense- Truck Accumulated Depreciation- Truck Depreciation Expense- Truck Accumulated Depreciation- Truck $555.56 $1,500 $500 3,000 $555.56 $1,500 $500 3,000 4

A truck was purchased on July 1 for $20,000. The estimated salvage value is $2,000. The estimated useful life is 3 years. Using straight-line method of depreciation, the amount of depreciation in the adjusting entry at fiscal year-end on December 31 is