1- On January 1, 2012, $1,000,000, 10-year, 10% bonds, were issued for $1,060,000. Interest is paid annually qn January 1. If the issuing corporation uses the straight- method to amortize premium on bonds payable, the monthly amortization amr IS ) 1) $10,000 0 2) $8,833 3) $1,000. (4) $500.

2- Equipment was purchased for $60,000. Freight charges amounted to $8,200 and there was a cost of $8,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $12,000 salvage value at the end of its F year useful life. Depreciation expense each year using the straight-line method w be 0 1) $12,840 0 2) $14,160 () 3) $19,640 04) $11,760

3- Wake Company sells merchandise on account for $5,100 to Dot Company with credit terms of 2/10, n/30. What is the amount of the check received before the discount period ends. 0 1) $4,998 0 2) $4,845 3) $1.230 4) $1,225

Please answer all the questions, and TYPE the answers. NO handwriting.