Entity D purchased equipment at a cost of $440,000 in Jarnuary 2022. As of January 1, 2024, depreciation of $88,000 had been recorded on this equipment, Depreciation expense for 2024 is \$44,000. After the adjustments are recorded and posted on December 31,2024 , what are the balances for the Equipmant and Accumulated Depreciation accounts? Eguipment Accumulated Deprecistion $440,000$440,000$440,000$132,000$44,000$88,000$132,000$0. 3. 3 points Entity C uses accrual acoounting and should recognize revenue Only when cash sales are made. When either cash or credit sales are made. When cash sales are made and only when cash collections are made on credit sales. Only when credit sales are made. 3 points All things boing equal, a company and its creditors would preter I. a lower current ratio II. a lower gross profit ratio IIL. a lower debf-to-total-assets ratio 1. 11, and fil. I only I and I only. ili only