Is the clutch slave cylinder located inside the transmission on a 1987 Mazda B2000?

NO!! It is located on the right hand side with two bolts that hold it along with the brake line that ties into into it for fluid. To replace it if it is leaking(normal wear and tear) just disconnect the line and two bolts and install new slave.Now to bleed it make sure the clutch reservoir is full and have another person inside the truck to manually push the clutch pedal when u hook up a bleeder to flush the system of old fluid and air.First open the bleeder have the assistant push the clutch pedal and let the old fluid come thru the line and then close after a short period.Then refill the reservoir with new dot 3 or dot 4 fluid and repeat until there is NO air bubbles coming thru the clear bleeder line to the container it bleeds into.It takes several times of refilling the reservoir to obtain this.Make sure the bleeder container has a small amount of fluid in it about a inch or so before bleeding this helps with suction and reduces air going into the line.Should not take more than 30 minutes.You may have to adjust the pedal afterwards which can be adjusted at the pedal and should be about 8 and 1/4 inches from the center side of the pedal to the floor mat.Just loosen the lock nut on the pedal and then the nut against the pedal to obtain the measurement.I would buy a chiltons or haynes manual for reference it has pics and other info.Way too much for a simple question.Just figured yours is leaking and you would need to replace it anyway.