udy S You received partial credit in the previous att Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Adjusting Entry Depreciation expense Accumulated depreciation y has only one fixed asset (truck) that it purchased at the start of this timated life of5 years, and is expected to have zero value at the end of the 5 year Step 1: Determine what the current account balance equals. Step 2 Determine what the current account balance should equal. $ 57.00 Step 3 Record the December 31 adjusting entry to get from step 1 to step 2 Adjusting Entry Debit Accumulated depreciation Truck 57,00 Accumulated depreciation-Truck c. The company has only one fixed asset (equipment) that it purchased at the start of estimated life of 7 years, and is expected to be valued at $11,800 at the end of the 7 y earch