A company purchased land for $90,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the historical cost principle, the cost of land would be recorded at Select one: a. $107,000. b. $90,000. c. $102,000. d. $70,000. Using the percentage of receivables method for recording bad debt expense, estimated uncollectible accounts are $11,000. If the balance of the Allowance for Doubtful Accounts is $2,800 debit before adjustment, what is the balance after adjustment? Select one: a $2,800 b. $8,200 c. $11,000 d. $13,800 Moreno Company purchased equipment for $900,000 on January 1, 2016, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 3- year life and a $40,000 salvage value at the end of its useful life. The amount of depreciation expense recognized in the year 2018 will be Select one: a. $100,000 b. $ 108,880. c. $68,880. d. $60,000