For each separate case below, follow the three-step process for adjusting the accumulated depreciation account at December 31. 28 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. a. The Krug Company's Accumulated Depreciation account has a $22,500 balance to start the year. A review of depreciation schedules reveals that 25,000 of depreciation expense must be recorded for the year Accumulated depreciation Debitor Credir? 22,500 Debit Step 1: Determine what the current account balance equals $ 22 500 22 500 Step 2 Determine what the current account balance should equal 3 47.900 Credit Debit Step 3 Record December 31 adjusting entry to get from stap 1 to step 2 Adjusting Entry Accumulated depreciation Depreciation expense Credit b. The company has only one fixed asset truck) that it purchased the start of this year. Th estimated life of 5 years, and is expected to have zero vale at the end of the 5 years La h at Cost 2.000, had Debitor Credit? Step 1: Determine what the current account balance equals. Step 2 Daermine what the current account balance should equal Step 3 Record the December 31 adjusting entry to get from step 1 to stop 2 c. The company has only one fixed asset equipment that it purchased at the start of this year. That asset had cost $68,000 had an the the