For each separate case below, tollow the three-step process for adjusting the Accumulated Depreciation account at December 31 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 Assume no other adjusting entries are made during the year. a. The Krug Company's Accumulated Depreciation account has a $17,000 balance to start the year. A review of depreciation schedules reveals that $18,800 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 $51,000, 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. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. c. The company has only one fixed asset (equipment) that it purchased at the start of this year. That asset had cost $46,000, had an estimated life of 7 years, and is expected to be valued at $8,200 at the end of the 7 years. Accumulated depreciation Equipment 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