Sheffield Corp. purchased a depreciable asset for $790000. The estimated salvage value is $41000, and the estimated useful life is 10 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset? O $112900 O $126400 O $158000 O $74900 Ivanhoe Factory provides a 2-year warranty with one of its products which was first sold in 2020. Ivanhoe sold $905,400 of products subject to the warranty. Ivanhoe expects $117,280 of warranty costs over the next 2 years. In that year, Ivanhoe spent $65,340 servicing warranty claims. Prepare Ivanhoe's journal entry to record the sales (ignore cost of goods sold) and the December 31 adjusting entry, assuming the expenditures are inventory costs. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 2020 (To record sales) During 2020 (To record warranty claims) 12/31/20