7. Copy Company purchased a machine on January 1, 2021, for $220,000. The machine was estimated to have a useful life of four years and a salvage value of $30,000. Calculate the amount of depreciation expense to record in years 1, 2, and 3 assuming the company uses the double- declining-balance method of depreciation? | 8. Indicate the 'normal balance' for each of the following financial statement accounts: Account Cost of Goods Sold Sales Sales Discounts Accounts Payable Accumulated Depreciation Bad Debt Expense Normal Balance 9. Huff Company purchased a building, land, and equipment for $1,100,000 cash in a basket purchase. The appraised value on the date of sale for each of the assets was as follows: Building Land Equipment $725,000 $315,000 $275,000 Make the journal entry to record the purchase of these assets on Huff Company's records