31. KAW Products purchased a machine for $150,000 on January 1, 2016. The company intends to depreciate it over 5 years using the double-declining balance method. Residual value is $15,000, and KAW uses the mid-month convention. What is depreciation for 2017?

Group of answer choices

a) $36,000

b) $30,000

c) $27,000

d) $60,000

32. Using the information from the last question, what adjusting journal entry could KAW make at the end of 2020, the final year of the machine's estimated useful life.

Group of answer choices

Debit Depreciation Expense 4,440 / Credit Accumulated Depreciation 4,440

Debit Accumulated Depreciation 4,440 / Credit Depreciation Expense 4,440

Debit Depreciation Expense 7,776 / Credit Accumulated Depreciation 7,776

Debit Accumulated Depreciation 7,776 / Credit Depreciation Expense 7,776