10. On July 8, Jones Inc. issued an $64,000, 12%, 120-day note payable to Miller Company. Assume that the fiscal year of Jones ends July 31. Using a 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? When required, round your answer to the nearest dollar.

a.$7,680

b.$491

c.$982

d.$1,473

18.The Weber Company purchased a mining site for $605,009 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 96,226 tons will be recovered. During the first year the company extracted 4,923 tons of ore. The depletion expense is

a.$54,722.80

b.$30,965.67

c.$27,996.63

d.$57,781.00

29. A machine with a cost of $55,400 has an estimated residual value of $4,436 and an estimated life of 5 years or 18,107 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method?

a.$11,080.00

b.$22,160.00

c.$20,385.60

d.$13,296.00

31. On January 1, Year 1, Zero Company obtained a $52,000, 4-year, 6.5% installment note from Regional Bank. The note requires annual payments of $15,179, beginning on December 31, Year 1. The December 31, Year 3 carrying amount in the allocation of periodic payments table for this installment note will be equal to

a.$0

b.$6,463

c.$13,000

d.$14,252