Exercise 3(7 marks) a) A delivery truck is purchased by Abdel Company on March 1, 2010, at a cost of S100.000. It has an estimated useful life of 8 years. The residual value is estimated to be $4,000 at the end of the asset's useful life. Instructions: Determine the depreciation expense for the first two years using the straight-line method (Hint: The financial year for Abdel Company is January 1 to December 31). (3 marks) 11. Which of the following accounts does not have a normal credit balance? a. Share Capital-Ordinary b. Revenue account c. Liability account d. Dividends 12. Each of the following accounts is closed to Income Summary except a. Expenses. b. Dividends c. Revenues. d. All of these answer choices are correct. 13. The double-entry system requires that each transaction must be recorded a. in at least two different accounts. b. in two sets of books. c. in a journal and in a ledger. d. first as a revenue and then as an expense. 14. Which of the following permanent account is changed during the closing process? a. Share Capital-Ordinary. b. Retained Earnings. c. Unearned Service Revenue. d. None of these answer choices are correct