Required information Prepare the required adjusting journal entry at December 31, 2022, the end of the annual accounting period for the items below. Assume that no adjusting entries have been made during the year. C. On January 1, 2022, Polk Company acquired a used dump truck that cost $9,600 to use haulin gravel. The company estimated a residual value of 10% of cost and a useful life 4 years. The company uses straight-line depreciation. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the depreciation expense under straight-line method, for the dump truck purchased on January 1,2022 for $9,600 with an estimated residual value of 10% on cost and a useful life of 4 years. Note: Enter debits before credits