19)

A company purchased a delivery van for $23,000 with a salvage value of $3,000. It has an estimated life of 5 years. Using the straight-line method, how much depreciation expense should the company recognize each year?

		$5,000
		$1,000
		$4,000
		$1,533

20)

A company sold $20,000 of equipment, accepting a 30-day note bearing interest at 12% per year (assume a 360 day year) for the $20,000. The entry to record the receipt of the amount collected at maturity will include which of the following, assuming no interest had been accrued.?

		Credit interest revenue $200
		Credit interest revenue $2,400
		Credit Notes Receivable $20,200
		Debit Cash for $20,000