C: Depreciation (20 marks) Complete the following Depreciation Schedules for 4 full years for A-Cut-Above-Lawn Care a) Schedule 1. A Truck bought for $30,000 will have a useful life of 14 years. The salvage value will be $2,000 at the end of its life. Complete using straight-line method (4 marks) Year Year 1 Year 2 =+ Opening Book Value Depreciation Expense Accum-Depreciation Year End Book Value Year 3 Year 4 b) Schedule 2. A Truck bought for $30,000 will have a useful life of 14 years. The salvage value will be $2,000 at the end of its life. It can be depreciated at a rate of 20%. Complete using declining-balance method (4 marks) Year Opening Book Value Year 1 Year 2 Year 3 Year 4 Depreciation Expense Accum-Depreciation Year End Book Value Date c) Use the given space provided to record the appropriate Journal Entry. Journalize the Adjusting Entry for the truck at the end of the accounting period in Year 2 using Schedule 2 (3 marks) Account Titles & Explanation Ref. Debits Credits