Question 3 Ash Inc. owns the following long-lived assets: Asset Vehicles Equipment Required: Date Purchased Jan. 1, 2020 July 1, 2021 Cost $33,000 15,000 Estimated Useful Life 3 years 5 years a. Prepare depreciation adjusting entries for each asset for the year ended December 31, 2021, assuming the company uses straight-line depreciation and adjusts its accounts annually. b. For each asset, calculate its accumulated depreciation and carrying amount at December 31, 2021. C. Would the answer to part (b) change if the company prepared its depreciation entries monthly rather than annually? Briefly explain your answer.