Account Debit Credit Credit Cash 7.000 Accounts receivable 22.000 Inventory 35,000 Prepaid rent 3,000 Land 16.000 Machinery & equip. 120,000 Accum. depr. - mach. & equip. 25,000 10,000 Accounts payable Notes payable (long-term) 22.000 Salaries payable 5.000 Common stock 40.000 Retained earnings, Jan. 1, 2020 72,000 Dividends 7.000 Service revenue 125.000 Interest revenue 1,000 Rent expense 20,000 Salary expense 33,000 Supplies expense 12,000 Selling expense 15,000 Depreciation expense 10,000 $300,000 $300,000 1 What is the amount that Machinery & Equipment, net should be shown on a classified balance sheet at December 31, 2020? $120,000 $111.000 $95,000. $145,000