A company purchased equipment on Jan 1st, of Year 1. Here are the details: Cost: $100,000 Salvage value: $20,000 Estimated useful life: 5 years Using the straight line method, what is the journal entry to record depreciation expense for Year 2? Dr depreciation expense 32,000; Cr accumulated depreciation 32,000 Dr depreciation expense 16,000; Cr accumulated depreciation 16,000 Dr accumulated depreciation 16,000; Cr cash 16,000 Dr depreciation expense 16,000; Cr Equipment 16,000