On January 2, 2021, Sun Corporation purchased a delivery truck for $35,000 cash. The company uses straight-line depreciation and estimates that the truck will have a seven-year useful life. The company has a December 31 year-end and adjusts its accounts annually. REQUIRED: a. Calculate the amount of depreciation for 2021 for the truck. b. Prepare the adjusting journal entry required at December 31. Format V B 1 blood O + V ... ACCOUNT TITLES AND DEBIT CREDIT DATE EXPLANATION