Which of the following statements about depreciation methods is not correct? Multiple Choice The amount of depreciation expense recorded in each year of an asset's fe depends on the method that is used. O The amount of net income reported each year will be the same regardless of the depreciation method used. Different depreciation methods can be used for different classes of assets provided the methods are used consistently over time so that financial statement users can compare results across periods. of that financi At the end of an asset's life, after it has been fully depreciated, the total amount of depreciation will equal the assets depreciable cost. Cedar Mill, Inc. uses the Aging of Accounts Receivable method for estimating uncollectible accounts. The accounting records show the following information at the end of the year Accounts Receivable Estimated Uncollectible Number of Days Unpaid 0 - 30 31 - 60 61 - 90 $740,000 Over 90 $480,000 $220,000 $160,000 58 107 15* 258 If the unadjusted credit balance in the Allowance for Doubtful Accounts account before is $30,000, what would be the amount of the adjustment for bad debts? Multiple Choice $158,000 $128,000 500,000