c. Office Equipment, double-declining-balance, five years, $7,000 residual value. (Round all currency amounts to the nearest whole dollar.) (Click the icon to view the T-account balances from Requirement 3.) OFFICE EQUIPMENT: Double-Declining-Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Depreciation Accumulated Book Date Cost Value Rate Expense Depreciation Value 1/1/2024 12/31/2024 12/31/2025 x x x x 12/31/2026 12/31/2027 12/31/2028 bea nuar O Bal. Depr. Expense-Store Fixtures Store Fixtures Bal. 0 Bal. 105,000 Depr. Expense-Office Equipment Bal. 105,000 Bal. Accum. Depr.Store Fixtures Amortization Expense- Franchise O Bal. Bal. Office Equipment Bal. 55,000 Interest Expense Bal. 55,000 Bal. Accum. Depr.Office Equipment Cash Short and Over Bal. 7 O Bal. Bal. Franchise Bal. 54,000 Screenshot Bal. 54,000 Bal. 50,000 Credit Card Expense Bal. 750 Building Bal. 495,000 Bal. 750 Bal. 495,000 Depr. Expense-Building Accum. Depr.-Building Bal. O Bal. Depr. Expense-Store Fixtures Store Fixtures Bal. 0 Bal. 105,000 Depr. Expense-Office Equipment Bal. 105,000 Bal. 0 Accum. Depr.Store Fixtures Amortization Expense- Franchise O Bal. Bal. Office Equipment Bal. 55,000 Interest Expense Office Supplies Utilities Expense Bal. 1,007 Bal. 13,000 Bal. 1,007 Bal. 13,000 Prepaid Insurance Insurance Expense Bal. 3,400 Bal. 0 Bal. 3,400 Interest Receivable Supplies Expense Bal. 0 Bal. 0 Notes Receivable Bad Debts Expense Bal. 260,000 Bal. 0 Bal. 260,000 Bank Expense Land (z) 2,420 Bal. 50,000 Bal. 2,4201 Bal. 50,000 Credit Card Expense Bal. 750 Building 495,000 Bal. Bal. 750 Cash Accounts Payable Sales Revenue Bal. 468,966 410,000 Bal. 1,965,000 Bal. (z) 1,250 2,420 (z) Bal. 467,796 410,000 Bal. 1,965,000 Bal. Petty Cash Interest Payable Interest Revenue Bal. 120 4,200 Bal. O Bal. 1,250 (2) Bal. 120 5,450 Bal. Note Payable Accounts Receivable 200,000 Bal. Cost of Goods Sold Bal. 270,000 Bal. 853,000 200,000 Bal. Bal. 270,000 Bal. 853,000 Allowance for Bad Debts Bamerd, Capital Franchise Fee Expense 600,000 Bal. Bal. 58,950 O Bal. 600,000 Bal. Bal. 58,950 Merchandise Inventory Bamerd, Withdrawals Salaries Expense Bal. 257,000 Bal. 24,000 Bal. 210,000 Bal. 257,000 Bal. 24,000 Bal. 210,000