3. Which of the following is not an intangible asset? a. patent b. franchise c. goodwill d. oil reserve 4. The entry to record equipment depreciation is: a. debit accumulated depreciation; credit equipment b. debit accumulated depreciation; credit depreciation expense c. debit depreciation expense; credit equipment d. debit depreciation expense; credit accumulated depreciation 5. A machine costing $15,000 was purchased. Delivery and installation cost $2,000 and the residual value is $1,000. If the company keeps the machine for its entire life, how much of the machine will be depreciated? a. $2,000 b. $15,000 c. $16,000 d. $17,000