Question 6 2 pts Klein, Inc. purchased a piece of manufacturing equipment for $30,000 on January 1, 2020. Using the straight-line method of depreciation, klein began to depreciate the asset over an estimated useful life of 5 years and with an estimated salvage value of $5,000. At the end of the second year, Klein determined that the equipment actually had four more years remaining (for a total useful life of six years) but that its estimated salvage value would remain at $5,000. Based on this new information, depreciation expense during the third year would be O $ 0. O $ 4,500 O $ 5,000 O $ 3.750. Question 7 2 pts Based on the facts of Question 6, the net book value of the equipment at the end of the third year would be $16,250 Question 7 2 pts Based on the facts of Question 6, the net book value of the equipment at the end of the third year would be O $16,250 O $13,500 $20,000 $15,000 2 pts Question 8 Ethan Corporation began 2020 with an $8,000 balance in accounts receivable and a $400 balance in the allowance for doubtful accounts. During the year 2020, the company had credit sales (sales on account) of $96,000 and had collections of 86,000 from customers. The company uses the allowance method and believes that 5 percent of its outstanding accounts receivable balance will be uncollectible. There were no actual write-offs during the year. The balance in the accounts receivable account of Ethan Corporation at the end of 2020 would be $ 7,600 $18,000 $10,000 O $17,600 2 pts Question 9