Content education.com Connect Homework (due Mon] Savad Help Assume no other adjusting entries are made during the year a. The Krug Company's Accumulated Depreciation account has a $23,500 balance to start the year. A review of depreciation schedules reveals that $26,600 of depreciation expense must be recorded for the year. Accumulated depreciation Step 1 Determine what the current account balance equals. Step 2 Determine what the current account balance should equal Step 3 Record the December 31 adjusting entry to get from step 1 to step 2 b. The company has only one fixed asset (truck) that it purchased at the start of this year. That asset had cost $64,000, had an estimated life of 5 years, and is expected to have zero value at the end of the 5 years. Accumulated depreciation -Truck 0 Step 1 Determine what the current account balance equals Step 2 Determine what the current account balance should equal Content education.com Connect Homework (due Mon] Savad Help Assume no other adjusting entries are made during the year a. The Krug Company's Accumulated Depreciation account has a $23,500 balance to start the year. A review of depreciation schedules reveals that $26,600 of depreciation expense must be recorded for the year. Accumulated depreciation Step 1 Determine what the current account balance equals. Step 2 Determine what the current account balance should equal Step 3 Record the December 31 adjusting entry to get from step 1 to step 2 b. The company has only one fixed asset (truck) that it purchased at the start of this year. That asset had cost $64,000, had an estimated life of 5 years, and is expected to have zero value at the end of the 5 years. Accumulated depreciation -Truck 0 Step 1 Determine what the current account balance equals Step 2 Determine what the current account balance should equal