2 points 50) Lucie Corporation was formed on January 1 of the current year. The corporate charter authorized the company to issue 100,000 common shares. During the first month of operation, the corporation issued 300 shares to its lawyer in payment of a $5,600 bill for preparing the articles of incorporation. The entry to record this transaction would include: A) A credit to Organization Costs for $5,600. B) A debit to Organization Costs for $3,000. C) A credit to Common Shares for $3,300. D) A debit to Common Shares for $5,600. E) A debit to Organization Costs for $5,600. Submit D C O E) The contract rate is below the market rate. 49) SportsWorld uses straight-line depreciation for a piece of equipment 2 points that cost $12,000, had a trade-in value of $2,000, and a five-year service life. At the end of the third year, the trade-in value was revised to $1,200 and the useful life increased to a total of 6 years. Calculate the amount of depreciation expense for each of the remaining years of the asset's useful life. * O A) $2,160. B) $1,000 OC) $1,600 OD) $1,467 O E) $1,800