GB 518 RANK Let's Do This /gb518rank.com GB 518 RANK Let's Do This /gb518rank.com | Page 36

Question 12. Question :
A company purchased a delivery
van for $23,000 with a salvage value of $3,000 on September 1,
2010. It has an estimated useful life of 5 years. Using the
straight-line method, how much depreciation expense should the
company recognize on December 31, 2010?
$1,000
$1,333
$1,533
$4,000
$4,600
Question 13. Question :
customer would result in:
A credit sale of $2,500 to a
A debit to the Accounts Receivable
account in the general ledger and a debit to the customer's
account in the accounts receivable ledger
A credit to the Accounts Receivable
account in the general ledger and a credit to the customer's
account in the accounts receivable ledger
A debit to the Accounts Receivable
account in the general ledger and a credit to the customer's
account in the accounts receivable ledger