Lakeview Clinic purchases a truck for 45,000 and pays 10,000 cash at purchase and signs a long term note payable for the balance due on the purchase. The clinic uses the STRAIGHT LINE DEPRECIATION METHOD, what is the annual depreciation expense that we would charge each year on the truck. Assume the truck has a useful life of 6 years and a salvage value of 15% at the end of 6 years. Provide a journal entry that you would make for year #1 to record this depreciation.