15-17 Practice Problem Set - Week 5 Context: The situation described below is reporting some financial data as part of their company statistic safekeeping. Your job is to analyze the following statements and report of the best solution based on the answer choices below. Only select one answer choice and report back to your team. A company acquired a new office machine on January 2, Year 1, for $120,000. The machine has a 10-year life and a $10,000 estimated salvage value. Depreciation for Year 2 using the double- declining balance method is: A. $19,600. B. $19,400. C. $17,600. D. $17,200. E. None of the above. Nextly, A company recorded the $36,000 adjusting entry for accrued interest revenue on monies it loaned by debiting revenues and crediting assets for $36,000. Total assets are A. $36,000 understated. B. $36,000 overstated. C. $72,000 overstated. D. $72,000 understated. E. correctly stated. Only one correct answer per part.