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 to step 2 Assume no other adjusting entries are made during the year 514,600 of depreciation expenne must be recorded for the year. The Krug Company's Accumulated Depreciation account has a 313.500 balance to start the year. A review of depreciation schedules aveals that Accumulated depreciation Stop 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 stop 2 b. The company has only one fixed asset (truck) that it purchased at the start of this year. That asset had cost $44,000, had an estimated life of five years, and is expected to have zero value at the end of the five years. b. The company has only one fixed asset truck) that it purchased at the start of this year. That asset had cost $14,000, had an estimated life of five years, and is expected to have zero value at the end of the five years. Accumulated depreciation-Truck Step 1 Determine what the current account balance equals. Stop 2 Determine what the current account balance should equal. Step 3. Record the December 31 adjusting entry to get from step 1 top 2 c. The company has only one fixed asset (equipment) that it purchased at the start of this year. That asset had cost $32.000, had an estimated life of seven years, and is expected to be valued at $4,000 at the end of the seven years. Accumulated depreciation Equipment 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 adlusting entry to oot from step 1 to step 2 The company has only one fixed asset (equipment) that it purchased at the start of this year. That asset had cost $32,000 had an estimated file of seven years, and is expected to be valued at $4,000 at the end of the seven years. Accumulated depreciation Equipment 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