Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $1,900,000 Harding paid $350,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values Land, $374,000, Building $1,100,000 and Equipment $726,000. Assume that Harding uses the units-of-production method when depreciating its equipment Harding estimates that the purchased equipment will produce 1,000,000 units over its 5 year useful life and has a salvage value of $34,000 Harding produced 265,000 units with the equipment by the end of the first year of purchase Which amount below is closest to the amount Harding will record for depreciation expense for the equipment in the first year? $125,200 O $157,145 $165,890 $193,450 QUESTION 28 The following information applies to the questions displayed below On January 1, Year 2, Kincald Company's Accounts Recelvable and the Allowance for Doubtful Accounts carried balances of $31,000 and $500, respectively During estimates tat it will be unable to collect one percent (1 %) of credit sales Which of the following describes the effects of Kincald's entry to recognize the write-off of the uncollectible accounts? Decrease assets and stockholders equity Does not affect assets or stockholders' equity Increase assets and decrease stockholders' equity s equity