bought equipment o MacGyver Company on January 3 2019, for $34.600. At the time of purchase, the equipment was estimated to have a useful life of 6 years and a salvage value of $1120. Using the straight-line method, the amount of one year's depreciation is Mulaple Choice $20 Equipment costing $15,000 with an estimated salvage value of $1,080 and an estimsted life of 4 years was purchased on October 31, 2019. Using the straight-line deprecistion methad, what is the smount of deprecistion expense to be recorded at December 31 20197 Mulupla Choice $250 53.480 $580 $1.080 31.2019 Using the st costing 15.000 Equipment 2019? with an estimated salvage value of $1.080 and an estimated ie of 4 years was purchased on Ocrober 3 aight-ine depreciacion method, what is the amount of depreciation expense to be recorded at December 31 Multiple Cholce $290 $3.480 $580 $1080 On September 1. 2019, Jay Walker Company purchased a one-year insurance policy for $960. The correct adjusting entry on December 31, 2019, is: Multiple Choice deblt Insurance Expense $320, credit Prepald Insurance $320 dlebnt Insurance Expense $720 credit Prespaid Insurance $720 deblt Prepald Insurance $80 credit Insurance Expense $80 deblt Prepald Insurance $960; credit Insurance Expense $960