Question #3:--430 arks) Whyte Company purchased a forklift for cash, on January 1, 2015 for $35,000. The estimated life of the Asset is 5 years. Required: (a) Prepare the Journal Entry to record the purchase of the forklift. (b) Prepare the adjusting Journal Entries to record depreciation expense, on each of the years at December 31, 2015, 2016, 2017 using Declining Balance Depreciation December 31,2015-2017 using Straight- line Depreciation. Depreciation from above, at December 31,2017, for S20,000. (c) Prepare the adjusting entry to record depreciation expense, on each of the years at (d) Prepare the journal entries to record the disposal of the Forklift, using both methods of