12) The receipt of a cash dividend arising from an investment (5% ownership) held by a company requires a A) credit to Dividend Revenue C) credit to Retained Earnings B) credit to Cash D) debit to Retained Earnings 13) On January 2, 2012 McNally's Extra Corporation acquired equipment for $120,000. The estimated life of the equipment is 5 years or 20,000 hours. The estimated residual value is $20,000. What is the amount of depreciation expense for 2014, if McNally's Extra Corporation uses the asset 4,000 hours and uses the units-of-production method of depreciation? A) $24,000 B) $30,000 C) $20,000 D) $25,000