How the adjusting entry to recognize depreciation expense, Accounting Basics

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How the adjusting entry to recognize depreciation expense

Problem

On Jonuary 1. Year 1. Marino Moving Company paid $48, 000 cash to purchase a truck The truck was expected to have a four year useful life and an $8, 000 salvage value If Marino uses the double declining, balance method, which of the following shows how the adjusting entry to recognize depreciation expense at the end of Year 3 will affect the Company's financial statements?

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Accounting Basics: How the adjusting entry to recognize depreciation expense

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