3 Points Fill in the blanks: Problem: On July 1, 2020, ABC Company acquired vehicle costing P750,000. The management estimates that they can use it for 10 years and will be able to sell it at P75,000 at the end of its life. Determine the following: 1. What account was credited on the adjusting entry on December 31, 2020? 2. How much depreciation expense was recorded as adjusting entry on December 31, 2020? 3. How much is the net book value of the vehicle on December 31, 2020? INSTRUCTIONS: 1. Choose from the following accounts for the journal entries: Depreciation expense Accumulated depreciation - vehicle 2. For the amounts of debit and credit, encode your answer in whole number without decimal places, no comma and peso sign (eg. if your answer is 4,000, encode it as 4000).