Question 7 View Policies Current Attempt in Progress Wildhorse Co. purchased equipment for $12960 on January 1, 2017. The company expects to use the equipment for 5 years. It has no salvage value. What balance would be reported on the December 31, 2017 balance sheet for Accumulated Depreciation? $0 because Accumulated Depreciation is reported on the Income Statement. $12960 $2592 $10368 Questloh 8 --/1 View Policies Current Attempt in Progress Equipment was purchased by Noland Manufacturing on January 1, 2017, for $97500. Noland's policy is to adjust its accounts at year-end. Which is the appropriate journal entry to record depreciation at year-end if the company expects to use equipment consistently for 5 years? In the choices below, as per convention, debits are listed first followed by credits. Depreciation Expense - Equipment $19500 Accumulated Depreciation - Equipment $19500 Accumulated Depreciation - Equipment $19500 Depreciation Expense - Equipment $19500 Depreciation Expense - Equipment $19500 Equipment $19500 Accumulated Depreciation - Equipment $19500 Equipment $19500