Question 2 4 pts PJS Industries purchased a machine for $88,000 on 1/1/20. It will have an estimated life of eight years, after which it can be sold for $7,000. What is the depreciation expense to be recorded in 2021 using the double declining balance method? (Please enter a round number without decimal places.) Question 3 3 pts Equipment is being purchased for $110,000. Freight costs are $1,400 and installation costs are $2,000. Wages for the new equipment operators will be $3,000 per month. The cost of the equipment is: (Please enter a round number without decimal places.) Question 18 Sales taxes collected by a company on behalf of a state government are recorded by: A debit to an expense account. A credit to a revenue account. A debit to a revenue account. A credit to a liability account. A debit to a liability account. Question 19 3 pts Management can estimate the amount of loss that will occur due to litigation against the company. If the likelihood of loss is reasonably possible, a loss contingency should be: disclosed but not reported as a liability. disclosed but not reported as a liability disclosed but not reported as a liability. disclosed but not reported as a liability. . disclosed and reported as a deduction from stockholders' equity