Equipment: What is that? What is the category of it and where do you record it? 2. Depreciation Expense: What is that? What is the category of it and where do you record it? 3. Accumulated Depreciation: What is that? What is the category of it and where do you record it? 4. You purchased three trucks for $450,000 on January 1, 2019. You expect to drive the trucks for 10 years, with $10,000 of residual value for each truck. Please calculate the Depreciation Expense and the Accumulated Depreciation, and the Net Value of the truck. Depreciation Schedule of the Three Trucks 5. List the steps of the Accounting Cycle