. X company uses double-declining balance to depreciate its equipment. X purchased a piece of equipment for $30,000 with a salvage value of $5,000. X expects the equipment to last for 20 years. In the second year, the entry to record depreciation will include: 1. Debit to Depreciation Expense for $2,700. 2. Credit to Gain for $5,000. 3. Credit to Accumulated Depreciation for $3,000. 4. Credit to Depreciation Expense for $3,000. . . 1 O2 3 04