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CP 3-2 The following unadjusted accounts are extracted from the general ledger of A Corp. at December 31, 2019: Acc. Depn- Truck Depreciation Expense - Truck 624 194 1,300 184 Truck 10,000 1,300 Additional Information: The truck was purchased January 1, 2019. It has an estimated useful life of 4 years. Required: Prepare the needed adjusting entry at December 31, 2019.

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Solution: Naming convention in drop down is not available, can be slightly different: Journal Entries Account title and explaination Debit Credit Dec.31 Depreciation Expense - Truck (10000/4) 1300 2019 $ 1,200 s 1,200 Accumulated Depreciation - Truck To record the adjusting entry for depreciation)

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