The next question deals with the December 31,2019 Balance Sheet of Horan Industries. Horan began 2019 with the following non-current asset balances: Plant and equipment (net) $185,000; Patents S27,000. No long-term assets were purchased or sold during the year. How much amortization and depreciation expense did Horan record during 2019 ? $10,000$11,000$12,000 It cannot be determined with the information given. 21. Quogue Sporting Goods purchased a new screen-printing machine for $50,000. It cost $1,000 to deliver the machine and $5,000 to install it. The machine has a useful life of 8 years and an estimated salvage value of S8,000. What would the depreciation be for the first year using the double declining method? $6,000$7,000$12,000$14,000 2. On December 1,2019 Zingo Inc. made a $100,000 payment to Big Boy Banking. The payment was for a $90,000 loan that Zingo received from Big Boy, 6 months ago. Which option below best represents the recording of this transaction for Zingo? Debit cash $100,000; credit notes payable $100,000 Debit interest expense $10,000; debit notes payable $90,000; credit cash $100,000 Debit notes payable $100,000; credit cash $100,000 Debit interest expense $10,000; debit notes payable $100,000; credit cash $90,000 3. The December 31, 2019 Income Statement of Jackson Industries is shown below. Jackson began 2019 with a taxes payable account balance of $5 million. During the year, it made a cash payment of $3 million to the tax authorities. On December 31,2019 , what is its taxes payable account balance? \$2 million S8 million S9 million \$12 million