A machine with a cost of $61,300.00 has an estimated residual value of $4,268.00 and an estimated life of 5 years or 19,316 hours. What is the amount of depreciation for the second full year, using the double declining-balance method?

Select the correct answer.

$12,260.00

$24,520.00

$22,812.80

$14,712.00

On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $274,077.00 with an accumulated depreciation of $246,669.30. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $24,666.93. What is the amount of the gain or loss on this transaction?

Select the correct answer.

Loss of $27,407.70

Gain of $2,740.77

Loss of $2,740.77

Gain of $27,407.70

An aging of a company's accounts receivable indicates that estimate of the uncollectible accounts totals $3,642. If Allowance for Doubtful Accounts has a $1,253 credit balance, the adjustment to record the bad debt expense for the period will require a

Select the correct answer.

debit to Allowance for Doubtful Accounts for $2,389.

debit to Allowance for Doubtful Accounts for $3,642

credit to Allowance for Doubtful for $3,642.

debit to Bad Debt Expense for $2,389.