Question Completion Status: QUESTION 20 Carpenters Company, a manufacturing company, acquired equipment on January 1, 2017 for $510,000. Estimated useful life of the equipment was seven years and the estimated residual value was $12,000. On January 1, 2020, after using the equipment for three years, the total estimated useful life has been revised to nine total years. Residual value remains unchanged. The company uses the straight-line method of depreciation. Calculate depreciation expense for 2020. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) OA) $48,571 OB) $47,429 OC) $56,667 D) $55,333 QUESTION 21 Which of the following is a characteristic of a current liability? A) It creates a present obligation for future payment of cash or services. OB) It cannot be settled with sevices. C) It is an avoidable obligation. D) It occurs because of a future transaction or event. QUESTION 22 Which of the following would be included in the journal entry to record the payment of sales tax payable? A) a debit to Sales Tax Payable B) a credit to Sales Tax Expense C) a debit to Sales Tax Expense D) a credit to Sales Tax Payable