38 % 1 0 18:32 3 b) The allowance for doubtful accounts before adjustments at December 31, 2020 showed a credit balance of $2500. Prepare the adjusting entry needed to bring the Allowance Accounts to the proper amount on December 31,2020. Date Debit Credit Db Cr 4. On January 1, 2020, European University of Lefke purchased a new bus for the students at a cost of $30000. The useful life of this bus was estimated at 4 years, with a residual value of $6000. Fill the table assuming that EUL uses straight line depreciation. Show calculatins in the table (15 points) Year Computation Book Value Straight-Line Depreciation Expense Accumulated Depreciation S 30000 1 2. 3 4 Total 5. European University of Lefke has an old bus that originally cost $20000 and has an accumulated depreciation of $17000. EUL trades in this old bus for a new one with a fair market value of $26000. The bus dealership grants EUL a trade-in allowance of $2000 for the old bus and EUL pays the remaining $24000 cost of the new bus in cash. (20 points) Calculations: Date Debit Credit Db Cr