Required information [The following information applies to the questions displayed below.] On January 1, Year 1, Jing Company purchased office equipment that cost $15,700 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $1,800. The equipment had a five-year useful life and a $4,840 expected salvage value. Assuming the company uses the double-declining-balance depreciation method, what are the amounts of depreciation expense and accumulated depreciation, respectively, that would be reported in the financial statements prepared as of December 31, Year 3? rev: 11_10_2018_QC_CS-147745

Multiple Choice

$0 and $15,300

$5,472 and $14,592

$1,460 and $12,660

$3,283 and $18,583