19. Popcom Company shows this information related to its inventory. Inventory from the Perpetual Inventory Records is 9,500 units and Inventory from the Physical Count is 9,700 units. What is the best possible reason for this difference? Inventory sent back to suppliers by the company is not being recorded. Inventory purchases are being recorded twice. Inventory that was stolen is still recorded. Inventory retumed by customers to the company is not being recorded. The lower-of-cost-or market procedure is applied to inventory. This procedure is relater 20. to: monetary unit reliability going concern conservatism 21. The process of "depletion" would most likely be used by: a. Boeing, Inc. b. General Mills, Inc. c. Anaconda Mining Company d. J. C. Penney Company 22. Deferred taxes would be related to: a. a company choosing the same accounting principles for books and tax b. a company trying to pay taxes early than necessary c. a company having to keep two sets of records for depreciation d. a company making its recordkeeping more simple 23. Fast Automobile Company borrowed money from its bank. This is a current note payable. The principal amount is $90,000. The interest rate is 9% annually. The note was signed on August 1, 2018 and the money was borrowed on that day. The principal is due on May 1, 2019. What is the interest expense recognized for the two years? b. C. d 2018 S4.050 $3,375 $3,375 $4,050 2019 $3,375 $3,375 $2,700 $2,700