Question 11 ABC Corporation purchased a truck on January 1, 2020, for $20,000 cash. The monthly depreciation is 5500 1. Show the journal entry that ADC should record on January 1, when the truck is purchased 2. Briefly explain whether and how ABCs income statement for the quarter ended March 31.2020 would be affected by this transaction, including any necessary actions 3. What is the netbook value of the truck on March 31, 20207 For the toolbar, press ALT+F10 (PC) O ALTFN+F10 (Mac)