On January 1, Year 1, Marino Moving Company paid $35,000 cash to purchase a truck. The truck was expected to have a four-year useful life and a $3,000 salvage value. If Marino uses the straight-line 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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The Answer of On January 1, Year 1, Marino Moving Company paid $35,000 cash to purchase a truck. The truck was expected to have a four-year useful life and a $3,000 salvage value. If Marino uses the straight-line 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?

On January 1, Year 1, Marino Moving Company Paid $35,000