Presented below are some business transactions that occurred during 201? for ABC Company: 1. A heavy duty stapler costing $25 is being depreciated over 5 years. The following entry was made: Depreciation ExpenseStapler..................................................... 5 Accumulated DepreciationStapler....................................... 5 2. An owner oi Kilgana Company took a vacation to France and charged the travel expenses to the company. The following entry was made: Travel Expense 4,000 Cash 4,000 3. An account receivable has been deemed a bad debt. The following entry was made: Allowance for Doubtful Accounts 0.000 Accounts Recelvable 0,000 4. Merchandise Inventory with a cost of $420,000 is reported at its fair value of $510,000. The following entry was made: Merchandise Inventory... 00.000 Gain on FaIr Value Adjustment of Inventory ............................ 00,000 5. Equipment worth $75000 was acquired at a cost of $60,000 from a company that was going out of business. The following entry was made: Equipment... 75,000 Cash... 60,000 Gain from\". on Fair value Adjustment on Equipment" 15,000 2. Instructions For each situation above. identify the assumption, concept. or constraint that has been violated, if any and why. If the entry is incorrect, prepare the entry that should have been made, if any