Transcribed image text: Bart Company purchased equipment on January 1, 2016, at a total cost of $400,000. The equipment has an estimated salvage value of $10,000 and an estimated useful life of 5 years. If the straight-line method of depreciation is used, the amount of accumulated depreciation at December 31, 2017, is: ton Select one: a. $160,000 b. $78,000. C. $80,000 d. $156,000. Gagner Company purchases land for $175,000 cash. The Company assumes $1,500 in property taxes due on the land. The title and attorney fees totaled $1,000. The Company has the land graded for $2,200. What amount does Gagner Company record as the cost for the land? Select one: a. $175,000 b. $157,200 c. $157,500 d. $179,700 Sensible Insurance Company collected a premium of $18,000 for a 1-year insurance policy on April 1. What amount should Sensible report as a current liability for Unearned Service Revenue at December 312 Select one: a. $4,500. b. $13,500. C. $0. d. $18,000 South Company borrows $88,500 on September 1, 2019, from State Bank by signing an $88,500, 12%, one-year note. What is the accrued interest at December 31, 2019? Select one: a. $3,540. b. $2,655. C. $10,620 d. $4,425