22 A company purchased factory equipment for $700,000. It is estimated that the equipment will have a $70,000 salvage value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be at of question Select one: a. $120,960 b. $168,000 c. $280,000. O d. $252,000. n 23 A deposit made by a company will appear on the bank statement as a ed but of Select one: a. credit memorandum. question b. credit. C. debit memorandum. d. debit