For each separate case below, follow the three-step process for adjusting the Accumulated Depreciation account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. b. Accumulated Depreciation: The company has only one fixed asset. (truck) that it purchased at the start of this year. That asset had cost $63,000, had an estimated life of five years, and is expected to have zero value at the end of the five years. c. Accumulated Depreciation: The company has only one fixed asset (equipment) that it purchased at the start of this year. That asset had cost $70.000. had an estimated life of seven vears and is exnected to he valued at $15 Ann at the and of tha savan